Foxy Management Secures $71.3M Loan For Multifamily Property In Morrisania
FINANCED
$71,300,000
New York
See Similar DealsMultiFamily83,678 SF
Financed 07/15/2021
FINANCED
Foxy Management Secures $71.3M Loan For Multifamily Property In Morrisania
1332 Clinton Avenue, West Bronx, Bronx, NY, USA
See Similar DealsMultiFamily83,678 SF
Financed 07/15/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$852
Total Square Footage:83,678 SF
Transaction Type:Loan
The multifamily property located at 1332 Clinton Avenue in the Morrisania market has recently undergone a closed transaction. The property consists of 150 units with a total square footage of 83,678. The loan amount for this transaction was $71,300,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $71,300,000
- Address: 1332 Clinton Avenue
- Market: Morrisania
- Landlord: Foxy Management
- Lender: New York City, New York State Housing Finance Agency & HANAC Inc.
The lender for this transaction was the New York City, New York State Housing Finance Agency & HANAC Inc. The landlord involved in the deal is Foxy Management.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$71,300,000.00
Monthly NOI$475,333.33
Monthly Debt Service$450,664.50
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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