Urban Standard Capital Provides $12M Construction Loan For Multifamily Project In Harlem
FINANCED
$12,000,000
New York
See Similar DealsMultiFamily22,968 SF
Financed 07/20/2022
FINANCED
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
See Similar DealsMultiFamily22,968 SF
Financed 07/20/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$522
Total Square Footage:22,968 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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