Updated Oct 29, 2024
Lument Provides $1.5M Loan For Multifamily Property In Miller Place
124 Sylvan Avenue, Miller Place, NY, USA
$1,497,000
$26/SF
Building Size
57,064 SF
Asset Type
MultiFamily
Closing
Dec 17, 2020
About this deal
AI
A multifamily property located at 124 Sylvan Avenue in Miller Place has recently closed a loan transaction. The loan was facilitated by lument''>Lument, a lending company specializing in real estate financing. The loan amount for this transaction was $1,497,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,497,000
- Address: 124 Sylvan Avenue
- Market: Miller Place
The loan transaction was arranged by Daniel Hopkins of Lynx Mortgage Bank LLC Commercial Division. Daniel Hopkins, a representative of Lynx Mortgage Bank LLC Commercial Division, played a crucial role in securing the loan for this multifamily property in Miller Place.
Players
Miller Place 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
10.60%
Cash-on-Cash
-3.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93