Updated Dec 11, 2024
Societe Generale Provides $31M Refinance Loan For Multifamily Property On Park Ave, Murray Hill
15-17 Park Avenue, New York, NY, USA
$31,000,000
$344/SF
Building Size
90,000 SF
Asset Type
MultiFamily
Closing
Aug 15, 2021
About this deal
AI
Ben Fishkind and Chaim Tessler were involved in a loan transaction for a multifamily property located at 15-17 Park Avenue in Murray Hill. The loan was provided by Societe Generale, with Ben Fishkind representing the lender. Chaim Tessler, from Meridian Capital Group, acted as the broker in the deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $31,000,000
The loan terms for this transaction include a 10-Year Term with Full-Term IO. The loan was obtained for the purpose of refinancing the property.
Players
Ronkonkoma 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
0.51%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93