Updated Dec 21, 2023
Starwood Mortgage Capital Provides $32.5M Loan For Multifamily Property In Hamilton Heights
1616 Amsterdam Ave, New York, NY 10031, USA
$32,500,000
$2,602/SF
Building Size
12,490 SF
Asset Type
MultiFamily
Closing
Feb 6, 2020
About this deal
AI
The multifamily property located at 1616 Amsterdam Avenue and 3217 Irwin Avenue in Hamilton Heights has been involved in a closed transaction. The property consists of 98 units and was acquired by Benjamin Hadar. The loan amount for the transaction was $32,500,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,500,000
- Lender: Starwood Mortgage Capital - Barry Sternlicht
- Landlord: Benjamin Hadar
- Units: 98
Barry Sternlicht of Starwood Mortgage Capital served as the lender for this transaction, facilitating the financing for Benjamin Hadar's acquisition of the multifamily property in Hamilton Heights.
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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93