Urban Standard Capital Provides $12M Construction Loan For Multifamily Project In Harlem
164-168 West 136th Street, New York City, New York 10030, United States
$12,000,000
$522/SF
Building Size
22,968 SF
Asset Type
MultiFamily
Closing
Jul 19, 2022
AI
The multifamily property located at 164-168 West 136th Street in Harlem has been involved in a recent loan transaction. The property spans approximately 22,968 square feet and consists of 26 units. The loan, provided by Urban Standard Capital, amounted to $12,000,000. The loan type is categorized as construction.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 164-168 West 136th Street
- Market: Harlem
- Unit Count: 26
Steven Neuman and Haussmann Development serve as the landlords of the property. This loan transaction was facilitated by Josef Goodman and Seth Weissman, representing Urban Standard Capital as the lenders.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93