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
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