Tahl Propp Equities Refinances Multifamily Property In East Harlem For $182M
131 East 126th Street, Manhattan, New York, NY, USA
$182,000,000
$688/SF
Building Size
264,386 SF
Asset Type
MultiFamily
Closing
Sep 28, 2021
AI
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.
Players
New York 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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93