Penn South Capital's Parag Sawhney & Reymond Chera Refinance Multifamily Property On East 7th Street With $10.1M Loan From KeyBank Real Estate Capital
164 E 7th St New York, NY 10009, USA
$10,075,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 19, 2023
AI
The property involved in this transaction is located at 164-166 East 7th Street in New York City. It is a multifamily asset owned by Penn South Capital, represented by Parag Sawhney and Reymond Chera. The property was refinanced with a loan amount of $10,075,000 from KeyBank Real Estate Capital. The loan is a 5-year term with full-term interest-only payment.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,075,000
- Address: 164-166 East 7th Street, New York City
- Market: New York City
- Landlord: Penn South Capital - Parag Sawhney & Reymond Chera
- Lender: KeyBank Real Estate Capital
- Broker: Ben Jacobs - Meridian Capital Group
- Loan Type: Refinance
- Loan Term: 5-Year Term, Full-Term Interest Only
The broker for this transaction is Ben Jacobs from Meridian Capital Group. Meridian Capital Group is America's most active real estate finance and advisory firm. For further information on how Meridian can add value to your portfolio, please contact Ben Jacobs at 212-612-0202 or [email protected].
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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93