CW Realty Refinances 10-Unit Multifamily Property In Upper East Side For $6M
1363 1st Avenue, New York City, New York 10021, United States
$6,000,000
$1,000/SF
Building Size
6,000 SF
Asset Type
MultiFamily
Closing
Jul 27, 2022
AI
Located at 1363 1st Ave in the Upper East Side, this multifamily property encompasses approximately 6,000 square feet and consists of 10 units. The property was involved in a recent loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Loan Type: Refinance
- Loan Terms: 1st Lien, 12 months + extensions; I/O payment
The loan for this property was provided by JG Funding Corp. CW Realty, the landlord, was involved in the transaction as well. The loan amount was $6,000,000, and it was a refinance loan with the terms of a first lien, 12 months with the option for extensions, and interest-only payment.
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New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93