Updated Dec 4, 2024
Samson Management Secures $16M Refinance Loan For Financial District Multifamily Property
156 Front Street
$16,000,000
$302/SF
Building Size
52,969 SF
Asset Type
MultiFamily
Closing
Oct 5, 2023
About this deal
AI
A $16 million refinance loan has been secured by Samson Management, represented by the entity 160 Front Street Associates LLC, for a 63-unit residential elevator building located at 156 Front Street in the Financial District, Manhattan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,000,000
- Address: 156 Front Street
- Market: Financial District, Manhattan
- Asset Type: Multifamily
- Building Square Footage: 52,969
- Loan Type: Refinance
The lender for this transaction is David Kershner from Samson Funding. The landlord, who secured the loan, is Brian McCarthy from Samson Management.
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
0.99%
Cash-on-Cash
-0.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93