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New York City, New York

PH Realty Capital Refinances Mixed-Use Portfolio In Lenox Hill For $183M
FINANCEDMultiFamily

PH Realty Capital Refinances Mixed-Use Portfolio In Lenox Hill For $183M

New York City, New York

$183,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 6, 2022

AI

The mixed-use property asset involves a loan amount of $183,000,000 for refinancing across multiple addresses including 114 E. 71st St., 1107 1st Ave., 1109 1st Ave., 232 W. 74th St., and several others within the Lenox Hill market, encompassing a total square footage of 25,000.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $183,000,000
  • Market: Lenox Hill
  • Lender: Debt Fund
  • Landlord: PH Realty Capital
  • Broker: Nate Hyman - Polaris Funding
  • Loan Type: Refinance

This transaction highlights the roles of key participants, including lender Debt Fund and landlord PH Realty Capital, with broker Nate Hyman representing Polaris Funding in the refinance deal.

Players

Nate Hyman

Polaris Funding

Broker

$490.8M

vol

15 deals

Broker
Debt Fund
Debt FundLender

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