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E&M Management Secures $64M Loan For Central Harlem & Hamilton Heights Multifamily Portfolio

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FINANCED
$64,000,000

New York

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MultiFamily369,662 SF
Financed 08/23/2021
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Property Image
FINANCED

E&M Management Secures $64M Loan For Central Harlem & Hamilton Heights Multifamily Portfolio

337 West 138th Street, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily369,662 SF
Financed 08/23/2021
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$173
Total Square Footage:369,662 SF
Transaction Type:Loan

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

Arbor Realty Trust
Arbor Realty Trust
LENDER
Irving Langer
Irving Langer
10 deals$510.4M volume
LANDLORD
Irving Langer
Irving Langer
10 deals$510.4M volume
LANDLORD
Irving Langer
Irving Langer
10 deals$510.4M volume
LANDLORD
Irving Langer
Irving Langer
10 deals$510.4M volume
LANDLORD

Details

FINANCED
IMAGE: Irving Langer & Ivan Kaufman DATE: 08/23/2021 ADDRESS: 153,149,145 Edgecombre 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, 305,303 West 111 St MARKET: Central Harlem & Hamilton Heights ASSET TYPE: Multifamily LENDER: Arbor Realty Trust - Ivan Kaufman LANDLORD: E&M Management - Irving Langer LOAN AMOUNT: $64,000,000 SF: 369,662 UNITS: 191

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$64,000,000.00

Monthly NOI$426,666.67
Monthly Debt Service$404,523.54
Change in Cash Flow$0.00
Refinance Proceeds$0.00