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Jonathan Rose Cos., L&M Development Partners & Acacia Network Acquires Multifamily Property In East Harlem For $223M

Property Image
FINANCED
$223,000,000

New York

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MultiFamily14,092 SF
Financed 06/30/2020
the dealdetailscomps
Property Image
FINANCED

Jonathan Rose Cos., L&M Development Partners & Acacia Network Acquires Multifamily Property In East Harlem For $223M

1681 Madison Avenue, Manhattan, New York, NY, USA

See Similar Deals
MultiFamily14,092 SF
Financed 06/30/2020
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$15,824
Total Square Footage:14,092 SF
Transaction Type:Loan

The multifamily property located at 1681 Madison Ave. in East Harlem has been involved in a recent transaction.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $223,000,000
  • Units: 348
  • Lender: New York City Housing Development Corp., the New York City Department Of Housing Preservation & Development, New York City Council & NYSERDA
  • Landlord: Jonathan Rose Cos., L+M Development Partners & Acacia Network

The financing for the property was provided by the New York City Housing Development Corp., the New York City Department Of Housing Preservation & Development, New York City Council, and NYSERDA.

The property is owned by Jonathan Rose Cos., L+M Development Partners, and Acacia Network.

Details

FINANCED
IMAGE: Ron Moelis, Raul Russi & Sanford Loenwentheil DATE: 06/30/2021 ADDRESS: 1681 Madison Ave. MARKET: East Harlem ASSET TYPE: Multifamily ~ UNITS: 348 LENDER: New York City Housing Development Corp., the New York City Department Of Housing Preservation & Development, New York City Council & NYSERDA LANDLORD: Jonathan Rose Cos., L+M Development Partners & Acacia Network LOAN AMOUNT: $223,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$223,000,000.00

Monthly NOI$1,486,666.67
Monthly Debt Service$1,409,511.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00