Updated Dec 4, 2024
Fortune Capital Group Refinances Multifamily Property In Mt. Hope, Bronx For $12.5M
106 Mount Hope Place
$12,500,000
$431/SF
Building Size
29,000 SF
Asset Type
MultiFamily
Closing
Oct 27, 2023
About this deal
AI
The multifamily property located at 106 Mount Hope Place in Mt. Hope, Bronx has recently undergone a refinance loan transaction. The property spans over 29,000 square feet and consists of 44 units. The loan amount for this transaction was $12,500,000. The loan type is a refinance, and the loan terms include a full term interest-only payment structure. The loan is non-recourse and allows for a cash-out option.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,500,000
- Square Footage: 29,000
- Units: 44
- Market: Mt. Hope, Bronx
The deal was facilitated by Jake Gluck of Fortune Capital Group, representing the involved parties in the transaction. Notably, this property was previously occupied by FEHPS.
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.27%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93