Updated Feb 16, 2024
David Grogan's 15 E 76 LLC Obtains $16.5M Refi Loan From KeyBank For Lenox Hill And Unionport Properties
15 East 76th Street New York, New York 10021, USA
$16,500,000
$186/SF
Building Size
88,567 SF
Asset Type
MultiFamily
Closing
Jul 10, 2023
About this deal
AI
Dave Grogan's 15 E 76 LLC has secured a refinancing loan of $16.5 million from KeyBank for three properties located in Lenox Hill and Yorkville in Manhattan, as well as Unionport in the Bronx. The properties consist of a total of 13 residential units and have a combined building square footage (BSF) of 96,895 and a total square footage (SF) of 88,567.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $16,500,000
- Address: 15 East 76th Street & 1261 Seabury Avenue
- Market: Lenox Hill, Manhattan & Unionport, Bronx
- Lender: KeyBank - Cynthia M. Milioto
- Landlord: David Grogan
The loan was obtained for the purpose of refinancing the properties owned by Dave Grogan's 15 E 76 LLC. KeyBank, represented by Cynthia M. Milioto, provided the financing for this transaction.
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
0.96%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93