Updated Oct 28, 2024
Santander Bank Provides $7.5M Loan For Multifamily Property In Morris Heights, Bronx
1571 Undercliff Avenue, The Bronx, New York 10453, United States
$7,523,100
$56/SF
Building Size
132,600 SF
Asset Type
MultiFamily
Closing
Jul 25, 2022
About this deal
AI
Located in Morris Heights, Bronx, the multifamily property at 1571 Undercliff Avenue has recently undergone a loan refinancing transaction. With a total square footage of 132,600 and comprising 114 units, this property offers a substantial investment opportunity in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,523,100
- Address: 1571 Undercliff Avenue
- Market: Morris Heights, Bronx
- Lender: Santander Bank
- Landlord: Residential Management - Ezriel Weinberger
The loan refinancing was provided by Santander Bank to aid in the management and development of this multifamily property. The landlord, Residential Management represented by Ezriel Weinberger, ensured a successful transaction that secures new financing options for future improvements or investments.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.11%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93