Updated May 12, 2025
Amalgamated Bank Provides $13.15M Refinance Loan For Upper East Side Multifamily Property
161 163 East 89th Street,Upper East Side,New York
Building Size
19,800 SF
Asset Type
MultiFamily
Closing
Nov 10, 2022
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 161-163 East 89th Street in the Upper East Side market. The asset encompasses 19,800 square feet and consists of 27 units, reflecting its multifamily nature.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,150,000
- Loan Type: Refinance
- Lender: Amalgamated Bank
- Landlord: Peak Capital - Alex Rabin & David Gomez
Key individuals involved in the deal include Alex Rabin and David Gomez, representing Peak Capital as the landlords. The transaction was facilitated through a refinance loan provided by Amalgamated Bank, highlighting the financial backing which enabled the deal to progress.
Players
Cleveland 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
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93