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Aron Karpen Secures $17.1M Construction Loan From Bank Of Princeton

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FINANCED
$17,100,000

New York

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MultiFamily
Financed 01/19/2024
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Property Image
FINANCED

Aron Karpen Secures $17.1M Construction Loan From Bank Of Princeton

130 East 165th Street

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MultiFamily
Financed 01/19/2024
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

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.

Players

Bank of Princeton
Bank of Princeton
LENDER

Details

FINANCED
IMAGE: 01/19/2024 ADDRESS: 130 East 165th Street MARKET: Concourse, Bronx ASSET TYPE: Multifamily ~ BSF: 40,812 ~ UNITS: 75 LENDER: Peggy Lane - Bank of Princeton LANDLORD: Aron Karpen LOAN AMOUNT: $17,100,000 LOAN TYPE: Construction NOTE: Aron Karpen, represented by 130 E 165 Holdings LLC, secured a $17.1 million construction loan from the Bank of Princeton for a 75-unit project located at 130 East 165th Street in Concourse, Bronx.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,100,000.00

Monthly NOI$114,000.00
Monthly Debt Service$108,083.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00