Updated Dec 4, 2024
BankUnited Provides $29.5M Loan For Multifamily Properties In Morningside Heights
1020 Amsterdam Ave, New York, NY 10025, USA
$29,468,457
$12/SF
Building Size
2,352,840 SF
Asset Type
MultiFamily
Closing
Oct 20, 2020
About this deal
AI
A multifamily property located at 1020 Amsterdam Avenue and 1655 Undercliff Avenue in Morningside Heights has been involved in a recent transaction. The property is situated in an area zoned for R8, C1-4, and R7-1 use.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $29,468,457
- Market: Morningside Heights
- Loan Lender: BankUnited
- Landlord: Stellar Management
- Address: 1020 Amsterdam Avenue, 1655 Undercliff Avenue
- Square Footage: 235,284
The loan for this transaction was provided by BankUnited. Stellar Management acts as the landlord for this property. The transaction amount for this deal was $29,468,457. The property spans an area of 235,284 square feet.
Players
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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93