Updated Feb 16, 2024
Arbor Realty Trust Provides $10M Loan For Multifamily Property At 1208 Franklin Ave, Morrisania, Bronx
1208 Franklin Ave, The Bronx, NY 10456, USA
$10,000,000
$22,727/SF
Building Size
440 SF
Asset Type
MultiFamily
Closing
Jan 23, 2020
About this deal
AI
A multifamily property located at 1208 Franklin Ave in Morrisania, Bronx has been involved in a closed transaction. The property consists of 44 units and was sold for a total loan amount of $10,000,000. The lender in this transaction was Arbor Realty Trust, while the landlord is Simcha Applegrad.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Units: 44
The key individuals and companies involved in this deal include Ivan Kaufman from Arbor Realty Trust as the lender, and Simcha Applegrad as the landlord representative. The transaction took place on January 24, 2020.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93