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Mark Fogel Of ACRES Capital Issues $42.5 Million Refinance Loan For Midtown Manhattan Multifamily
FINANCED
$42,500,000
New York
See Similar DealsMultiFamily
Financed 10/08/2025
FINANCED
Mark Fogel Of ACRES Capital Issues $42.5 Million Refinance Loan For Midtown Manhattan Multifamily
159 West 54th Street
See Similar DealsMultiFamily
Financed 10/08/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The Congress is a multifamily apartment building located at 159 West 54th Street in Midtown Manhattan, consisting of 74 units. The property is part of a significant market for residential assets in a prime urban location, attracting interest from investors and lenders alike.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $42,500,000
- Lender: Mark Fogel
- Lender Agency: ACRES Capital
- Loan Type: Refinance
- Market: Midtown Manhattan
Mark Fogel, representing ACRES Capital, facilitated the financing by issuing a loan specifically aimed at refinancing the multifamily asset. This involvement underscores the trend of refinancing as property owners seek to optimize their financial strategies in the current market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$42,500,000.00
Monthly NOI$283,333.33
Monthly Debt Service$268,628.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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