Updated Feb 16, 2024
Teddy And Eric Margules Secure $3.5M Loan On Multifamily Property In Chelsea With New York Community Bank
139 West 28th Street, New York, NY 10001
$3,500,000
$287/SF
Building Size
12,180 SF
Asset Type
MultiFamily
Closing
Nov 21, 2018
About this deal
AI
The multifamily property located at 139 West 28th Street in Chelsea has been involved in a recent transaction. The property spans across 12,180 square feet and is situated in a bustling market.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $3,500,000
- Date: 11/22/2018
- Lender: New York Community Bank
- Landlord: Teddy Margules & Eric Margules
- Mortgage Broker: Samuel Guss
- Term: 7+5 Year
- Interest Rate: 4.50%
The transaction involved a loan from New York Community Bank amounting to $3,500,000. The loan term is set at 7+5 years with an interest rate of 4.50%. The borrowers, Teddy Margules and Eric Margules, secured the loan for the property through their mortgage broker, Samuel Guss.
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
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93