Tahl Propp Equities Refinances Multifamily Property In East Harlem For $182M
FINANCED
$182,000,000
New York
See Similar DealsMultiFamily264,386 SF
Financed 09/29/2021
FINANCED
Tahl Propp Equities Refinances Multifamily Property In East Harlem For $182M
131 East 126th Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily264,386 SF
Financed 09/29/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$688
Total Square Footage:264,386 SF
Transaction Type:Loan
The multifamily property located at 107-131 East 126th Street in East Harlem has recently undergone a loan refinancing transaction. The property, owned by Rodney Propp & Joseph Tahl of Tahl Propp Equities, spans a total area of 264,386 square feet and consists of 255 units. The loan was provided by Wilmington Trust for a total amount of $182,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $182,000,000
- Loan Type: Refinance
- Lender: Wilmington Trust
- Landlord: Rodney Propp & Joseph Tahl - Tahl Propp Equities
- Units: 255
The loan refinancing transaction was facilitated by Wilmington Trust, providing financial support to Rodney Propp & Joseph Tahl - Tahl Propp Equities. This deal allows for the continued operation and maintenance of the multifamily property located in East Harlem, ensuring the provision of housing for the 255 residents within the community.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$182,000,000.00
Monthly NOI$1,213,333.33
Monthly Debt Service$1,150,363.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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