Mendel Kaff Secures $43M Refinance Loan For Soundview Multifamily Building
1466 Watson Ave Bronx, NY 10472, USA
$43,000,000
$561/SF
Building Size
76,643 SF
Asset Type
MultiFamily
Closing
Jul 5, 2023
AI
Mendel Kaff has secured a refinance loan of $43 million from Valley National Bank for the residential walkup building located at 1466 Watson Avenue in Soundview, Bronx. The multifamily property spans approximately 76,643 square feet and consists of 116 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 1466 Watson Avenue
- Market: Soundview, Bronx
- Square Footage: 76,643
- Units: 116
The lender for this refinance transaction is Valley National Bank, with Terence J. McArdle representing the bank. Mendel Kaff, the landlord, successfully secured the loan to facilitate the refinancing of the property.
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
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93