Updated Dec 4, 2024
L&M Development Partners Secures $20.2M Loan For East Harlem Multifamily
160 East 103rd Street
$20,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 3, 2023
About this deal
AI
The multifamily property at 160 East 103rd Street in Manhattan's East Harlem neighborhood has secured a $20.2 million loan from Lumen Real Estate Capital. The loan, provided to Lisa Gomez - L+M Development Partners, is a refinancing transaction.
Summary of transation details
- Property Type: MultiFamily
- Loan Amount: $20,200,000
- Loan Type: Refinance
- Lender: Lumen Real Estate Capital
- Landlord: Lisa Gomez - L+M Development Partners
L+M Development Partners has successfully secured the $20.2 million loan for the multifamily property located at 160 E. 103rd St. in East Harlem. The loan was provided by Lumen Real Estate Capital.
On the Map
$20,200,000
MultiFamily
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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
0.79%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93