LMF Commercial (A Lennar Co.) Provides $39M Refinance Loan For Multifamily Portfolio In The Bronx
FINANCED
$39,000,000
New York
See Similar DealsMultiFamily271,233 SF
Financed 12/10/2021
FINANCED
LMF Commercial (A Lennar Co.) Provides $39M Refinance Loan For Multifamily Portfolio In The Bronx
160 West Kingsbridge Road, The Bronx, New York 10463, United States
See Similar DealsMultiFamily271,233 SF
Financed 12/10/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$143
Total Square Footage:271,233 SF
Transaction Type:Loan
The property involved in this closed transaction is a multifamily asset located at 160 W. Kingsbridge Road, 3004, 3011, 3021 & 3030 Heath Ave,. 2487 & 2497 Grand Ave. & 2500 Webb Ave. in the Bronx. The property spans a total of 271,233 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Market: Bronx
- Lender: LMF Commercial (A Lennar Co.) - Nihad Choudhury
- Landlord: Barry Singer
- Broker: Jonathan Singer - Strategic Funding
The loan involved in this transaction was a refinancing deal. It was provided by LMF Commercial (A Lennar Co.), with Nihad Choudhury representing the lender. The loan amount was $39,000,000, with a CMBS execution and a 10-year term. The loan terms included a full-term interest-only period and a loan-to-value ratio (LTV) of 75%.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$39,000,000.00
Monthly NOI$260,000.00
Monthly Debt Service$246,506.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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