Updated Dec 4, 2024
Ben Beitel Secures $150M Construction Loan For 144th Street Multifamily
120 East 144th Street
$150,000,000
Units
450
Asset Type
MultiFamily
Closing
Mar 29, 2024
About this deal
AI
The multifamily property located at 120 East 144th Street in Mott Haven, Bronx, consists of 450 units. The loan for this asset was provided by Martin Nussbaum & Daniel Ridloff from Slate / Scale Lending, amounting to $150,000,000 for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $150,000,000
- Landlord: Ben Beitel
- Brokers: Leah Paskus, Joel Roth, and Pinchas Vogel from Landstone Capital Group
Martin Nussbaum and Daniel Ridloff from Slate / Scale Lending acted as the lenders for the construction loan. Ben Beitel is the landlord of the property, and the deal was facilitated by brokers Leah Paskus, Joel Roth, and Pinchas Vogel from Landstone Capital Group.
Players
Bronx MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Pinchas Vogel to view all their deals.
Browse Bronx multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93