Patrick Fisher Of Timber Road Capital Secures $1.69M Loan For Multifamily Property In Bronx
130 West 195th Street
$1,690,000
$43/SF
Building Size
38,563 SF
Asset Type
MultiFamily
Closing
Oct 25, 2024
AI
A 32-unit multifamily property located at 130 West 195th Street in the Bronx has a total square footage of 38,563. The property secured a refinance loan of $1,690,000, which was closed in October 2024.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,690,000
- Lender: Verus Capital
- Broker: Patrick Fisher - Timber Road Capital LLC
- Loan Type: Refinance
- Loan Terms: 12 month Term
Patrick Fisher from Timber Road Capital LLC arranged the bridge loan for the transaction, representing the brokers involved. The loan is secured for a term of 12 months, aimed at enhancing the financing structure for the multifamily asset.
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
9.39%
Cash-on-Cash
-2.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93