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Builders Group USA Secures $10.3M Refinance Loan From Symetra Life Insurance For Bronx Multifamily Properties
FINANCED
$10,300,000
New York
See Similar DealsMultiFamily53,307 SF
Financed 07/21/2025
FINANCED
Builders Group USA Secures $10.3M Refinance Loan From Symetra Life Insurance For Bronx Multifamily Properties
1130 Sherman Avenue, 1334 Findlay Avenue & 1338 Findlay Avenue
See Similar DealsMultiFamily53,307 SF
Financed 07/21/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$193
Total Square Footage:53,307 SF
Transaction Type:Loan
A multifamily property transaction took place involving four walkup properties located at 1130 Sherman Avenue, 1334 Findlay Avenue, and 1338 Findlay Avenue in the Bronx's Concourse Village and Claremont Village markets. The properties have a total square footage of 17,769 and consist of 38 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,300,000
- Lender: Margaret Meister - Symetra Life Insurance
- Landlord: Yitzchok Salamon - Builders Group USA
- Loan Type: Refinance
This refinancing deal involved Builders Group USA, represented by 1130 Sherman LLC, securing a loan from Symetra Life Insurance. The financing highlights the strategic management of their property portfolio within the Bronx area.
Players
LENDER
LENDER
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,300,000.00
Monthly NOI$68,666.67
Monthly Debt Service$65,103.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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