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

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FINANCED
$26,850,000

New York

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MultiFamily67 SF
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FINANCED

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

138 East 12th Street

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MultiFamily67 SF
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$400,746
Total Square Footage:67 SF
Transaction Type:Loan

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 (Steve) Klein
51 deals$3.9B volume(212) 632-1838
BROKER

Jamie Leachman
JLL
14 deals$1.2B volume
BROKER

Christopher "Chris" Pratt
JLL
22 deals$5.7B volume
BROKER

LANDLORD

Details

FINANCED
IMAGE: Steve Klein, Jamie Leachman & Christopher Pratt DATE: 10/28/2022 ADDRESS: 138 E 12th Street MARKET: East Village ASSET TYPE: Multifamily ~ SF: 67,741 LENDER: BankUnited (@BankUnited.Official) LANDLORD: Westover Companies (@WestoverLiving) BROKERS: Steve Klein, Jamie Leachman & Christopher Pratt - JLL (@JLL) LOAN AMOUNT: $26,850,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$26,850,000.00

Monthly NOI$179,000.00
Monthly Debt Service$169,710.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00