Updated Oct 29, 2024
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
- Property Type: Multifamily
- Transaction Amount: $26,850,000
- Address: 138 E 12th Street
- Market: East Village
- Square Footage: 67,741
- Lender: BankUnited
- Landlord: Westover Companies
- Brokers: Steve Klein, Jamie Leachman, and Christopher Pratt - JLL
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
New York 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93