Updated Oct 28, 2024
E&M Management Secures $64M Loan For Central Harlem & Hamilton Heights Multifamily Portfolio
337 West 138th Street, Manhattan, New York, NY, USA
$64,000,000
$173/SF
Building Size
369,662 SF
Asset Type
MultiFamily
Closing
Aug 22, 2021
About this deal
AI
The loan transaction was made in Central Harlem & Hamilton Heights for a multifamily asset. The involved properties include 153, 149, 145 Edgecombe Ave, 337 West 138th Street, 557-561 W 149 St, 610, 620 West 141st Street, 2010, 1829, 1833 Adam C. Powell Blvd., 707 Nicholas Ave, and 305, 303 West 111 St. The total square footage of the asset is 369,662, and it comprises 191 units. The loan amount secured for this transaction was $64,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,000,000
- Square Footage: 369,662
- Units: 191
- Market: Central Harlem & Hamilton Heights
The lender in this loan transaction was Arbor Realty Trust, represented by Ivan Kaufman. E&M Management, represented by Irving Langer, served as the landlord in this deal.
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93