Ariel Property Advisors Brokers $25.35M Acquisition & Construction Loan For 120-125 Riverside Drive Multifamily

The recently closed property transaction took place at 120-125 Riverside Drive in the Upper West Side market. The asset involved is a multifamily property with a total square footage of 80,000. It comprises 82 units, making it a significant investment opportunity in a prime location.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $25,350,000
• Loan Type: Acquisition & Construction
• Loan Terms: 5 Years, 60% LTC, 7.25% Rate Fixed Rate, 2 Years IO

Matthew Dzbanek and Matt Swerdlow, representing Ariel Property Advisors, were the brokers involved in this transaction. Their expertise and negotiation skills played a crucial role in facilitating the deal. They were able to secure a loan amount of $25,350,000 for the acquisition and construction of the property.