Updated Oct 29, 2024
ConnectOne Bank Provides $1.04M Loan For Multifamily Property On Sherman Ave, Bronx
1180 Sherman Ave, The Bronx, NY 10456, USA
$1,040,000
$520/SF
Building Size
2,000 SF
Asset Type
MultiFamily
Closing
May 21, 2019
About this deal
AI
Located at 1180 Sherman Ave in the Bronx, this multifamily property was involved in a closed transaction. The property was owned by Rena Wasser, who is associated with MW Real Estate Partners and Duna LLC. The deal was facilitated by Adrian Edery from Paradigm Commercial Real Estate. The transaction involved a loan amount of $1,040,000 provided by ConnectOne Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,040,000
- Address: 1180 Sherman Ave
- Market: Bronx
- Lender: ConnectOne Bank
- Landlord: Rena Wasser - MW Real Estate Partners - Duna LLC
- Broker: Adrian Edery - Paradigm Commercial Real Estate
The deal was successfully facilitated by Adrian Edery from Paradigm Commercial Real Estate, representing Rena Wasser as the landlord of the property. ConnectOne Bank provided a loan amount of $1,040,000 to complete the transaction.
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
15.25%
Cash-on-Cash
-4.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93