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138 East 12th Street

Updated Oct 29, 2024

JLL Facilitates $26.85M Acquisition Loan For Westover Companies' East Village Multifamily
FINANCEDMultiFamily

JLL Facilitates $26.85M Acquisition Loan For Westover Companies' East Village Multifamily

138 East 12th Street

$26,850,000

$400,746/SF

Building Size

67 SF

Asset Type

MultiFamily

Closing

Apr 17, 2023

About this deal

AI

Located in the East Village neighborhood, the multifamily property at 138 E 12th Street recently underwent a transaction. Spanning approximately 67,741 square feet, this acquisition had a loan amount of $26,850,000. The lender involved in this deal was BankUnited, while the landlord was Westover Companies. Representing the deal on behalf of JLL were brokers Steve Klein, Jamie Leachman, and Christopher Pratt.

Summary of transaction details

This transaction involved the collaboration of various key individuals and companies. Steve Klein, Jamie Leachman, and Christopher Pratt from JLL represented the interests of the parties involved in the deal. BankUnited served as the lender, providing the necessary funds for the acquisition. The property, located at 138 E 12th Street in the East Village market, was acquired by the landlord, Westover Companies.

Players

Steven Klein

JLL

Broker

$4.5B

vol

55 deals

Broker
WC
Westover CompaniesLandlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $400.7K per square foot on a published $26.9M for 67 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.59%

Cash-on-Cash

-0.17%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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