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1516 Park Avenue, New York ...

MF1 Acquires Multifamily Property In New York With $32.5M Refinance Loan
FINANCEDMultiFamily

MF1 Acquires Multifamily Property In New York With $32.5M Refinance Loan

1516 Park Avenue, New York City, New York 10029, United States

$32,500,000

Building Size

Asset Type

MultiFamily

Closing

May 8, 2022

AI

1516 Park Avenue in New York has recently undergone a refinancing transaction. The multifamily property was involved in a loan deal with a loan amount of $32,500,000. The loan was provided by MF1, specifically Max Hayum. The property's address, 1516 Park Avenue, is situated in the New York real estate market.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $32,500,000

Facilitating the loan deal were brokers Daniel Cohen and Tal Savariego from Meridian Capital Group, who represented the parties involved in the transaction.

Players

Tal Savariego

Iron Hound Management Company

Broker

$532.7M

vol

14 deals

Broker
M
MF1Lender

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

0.49%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93