Principal Life Insurance Company Provides $26M Loan For Multifamily Property On Madison Avenue
FINANCED
$26,000,000
New York
See Similar DealsMultiFamily106,947 SF
Financed 07/07/2021
FINANCED
Principal Life Insurance Company Provides $26M Loan For Multifamily Property On Madison Avenue
1100 Madison Avenue, Manhattan, New York, NY, USA
See Similar DealsMultiFamily106,947 SF
Financed 07/07/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$243
Total Square Footage:106,947 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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