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164 E 7th St New York, NY 1...

Penn South Capital's Parag Sawhney & Reymond Chera Refinance Multifamily Property On East 7th Street With $10.1M Loan From KeyBank Real Estate Capital
FINANCEDMultiFamily

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

Ben Jacobs

Meridian Capital Group

Broker

$571.4M

vol

17 deals

Broker
KeyBank
KeyBankLender
Parag Sawhney

Parag Sawhney

Penn South Capital

Landlord

$175.5M

vol

23 deals

Landlord

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