Updated Dec 4, 2024
Aron Karpen Secures $17.1M Construction Loan From Bank Of Princeton
130 East 165th Street
$17,100,000
Units
75
Asset Type
MultiFamily
Closing
Jan 19, 2024
About this deal
AI
The multifamily asset located at 130 East 165th Street in Concourse, Bronx, with 75 units, was the subject of a $17.1 million construction loan secured by Aron Karpen. The loan was obtained from the Bank of Princeton, with Peggy Lane representing the lending institution.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,100,000
- BSF: 40,812
- Units: 75
- Lender: Peggy Lane - Bank of Princeton
- Landlord: Aron Karpen
Aron Karpen, represented by 130 E 165 Holdings LLC, successfully secured the $17.1 million construction loan from the Bank of Princeton for the development of the multifamily project at 130 East 165th Street in Concourse, Bronx. This transaction highlights the collaboration between Aron Karpen and Peggy Lane from the Bank of Princeton, ensuring the progression of this real estate endeavor.
On the Map
$17,100,000
MultiFamily
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Players
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93