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
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.
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