Updated Oct 28, 2024
Principal Life Insurance Company Provides $26M Loan For Multifamily Property On Madison Avenue
1100 Madison Avenue, Manhattan, New York, NY, USA
$26,000,000
$243/SF
Building Size
106,947 SF
Asset Type
MultiFamily
Closing
Jul 6, 2021
About this deal
AI
The multifamily property located at 1100 Madison Avenue in the Upper East Side has been involved in a loan transaction. The lender in this deal is Principal Life Insurance Company, providing a loan amount of $26,000,000 to the property owner, Elyacher Properties. The property spans over 106,947 square feet and consists of 102 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Address: 1100 Madison Avenue
- Market: Upper East Side
- Square Footage: 106,947
- Units: 102
The loan transaction at 1100 Madison Avenue involved Principal Life Insurance Company as the lender and Elyacher Properties as the property owner. This deal highlights the financial support provided to the multifamily property, aiding in its successful operation and management.
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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93