Updated Oct 28, 2024
HELP USA Secures $51.9M Loan For Soundview Multifamily In Bronx With Lender City Of New York Department Of Housing & Development
1233 White Plains Road, East Bronx, Bronx, NY, USA
$51,922,532
Units
71
Asset Type
MultiFamily
Closing
Jul 7, 2021
About this deal
AI
The City of New York Department of Housing & Development has provided a loan of $51,922,532 to HELP USA for the acquisition of three properties in Soundview, Bronx. The properties are located at 1233 White Plains Road, 1058 Teller Avenue, and 3034-3042-3046 Holland Avenue. These properties are classified as multifamily assets and consist of a total of 71 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $51,922,532
- Loan Lender: City of New York Department of Housing & Development
- Landlord: HELP USA
- Address: 1233 White Plains Road, 1058 Teller Avenue, 3034-3042-3046 Holland Avenue
- Market: Soundview, Bronx
- Units: 71
Vito Mustaciuolo and Greg Russ represented the City of New York Department of Housing & Development in this transaction as the lender's representatives. As part of the deal, HELP USA will act as the landlord for these properties in Soundview, Bronx.
On the Map
$51,922,532
MultiFamily
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Bronx 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
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93