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

Property Image
FINANCED
$25,350,000
Matt Swerdlow
Matthew (Matt) Dzbanek

New York

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MultiFamily80,000 SF
Financed 01/30/2024
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Property Image
FINANCED

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

120-125 Riverside Drive

See Similar Deals
MultiFamily80,000 SF
Financed 01/30/2024
Matt Swerdlow
Matthew (Matt) Dzbanek
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$316
Total Square Footage:80,000 SF
Transaction Type:Loan

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.

Players

Matt Swerdlow
Ariel Property Advisors
Matt Swerdlow
26 deals$311.3M volume
BROKER
Matthew (Matt) Dzbanek
Ariel Property Advisors
Matthew Dzbanek
14 deals$217.4M volume
BROKER

Details

FINANCED
IMAGE: Matthew Dzbanek & Matt Swerdlow DATE: 01/30/2024 ADDRESS: 120-125 Riverside Drive MARKET: Upper West Side ASSET TYPE: Multifamily ~ SF: 80,000 ~ UNITS 82 BROKERS: Matthew Dzbanek (@MJDzee ) & Matt Swerdlow - Ariel Property Advisors (@ArielPA.NYC) LOAN AMOUNT: $25,350,000 LOAN TYPE: Acquisition & Construction LOAN TERMS: 5 Years, 60% LTC, 7.25% Rate Fixed Rate, 2 Years IO

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$25,350,000.00

Monthly NOI$169,000.00
Monthly Debt Service$160,229.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00