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Wells Fargo Bank Provides $46.5M Loan For Multifamily Property In Carnegie Hill

Property Image
FINANCED
$46,472,000

New York

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MultiFamily242,157 SF
Financed 12/10/2020
the dealdetailscomps
Property Image
FINANCED

Wells Fargo Bank Provides $46.5M Loan For Multifamily Property In Carnegie Hill

1680 3rd Avenue, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily242,157 SF
Financed 12/10/2020
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$191
Total Square Footage:242,157 SF
Transaction Type:Loan

Howard Milstein obtained a loan for a multifamily property located at 1680 3rd Avenue in the Carnegie Hill market. The property consists of 280 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $46,472,000
  • Loan Lender: Wells Fargo Bank
  • Landlord: Milstein Properties

Howard Milstein secured a loan of $46,472,000 from Wells Fargo Bank to finance the multifamily property at 1680 3rd Avenue. Milstein Properties serves as the landlord for this asset.

Details

FINANCED
IMAGE: Howard Milstein DATE: 12/10/2020 ADDRESS: 1680 3rd Avenue MARKET: Carnegie Hill ASSET TYPE: Multifamily ~ UNITS: 280 LENDER: Wells Fargo Bank LANDLORD: Milstein Properties AMOUNT: $46,472,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$46,472,000.00

Monthly NOI$309,813.33
Monthly Debt Service$293,734.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00