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170 West 109th Street

 Acquires Multifamily Property On 109th Street In Upper West Side For $7.5M
FINANCEDMultiFamily

Acquires Multifamily Property On 109th Street In Upper West Side For $7.5M

170 West 109th Street

$5,200,000

$253/SF

Building Size

20,520 SF

Asset Type

MultiFamily

Closing

Oct 22, 2022

AI

The recent closed property transaction involved a multifamily building located at 170-172 W 109th Street in the Upper West Side of New York, NY. The property consists of 30 units and was acquired for a purchase price of $7,500,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $7,500,000
  • Loan Amount: $5,200,000
  • Loan Type: Acquisition
  • Loan Term: 70% Loan to Purchase Price

The landlord of the property is , representing . The brokers involved in the deal were David Oheb and John Bianco from Meridian Capital Group.

The loan for the acquisition amount of $5,200,000 was successfully closed in just 36 days, showcasing efficient bank execution. The landlord, , expressed interest in receiving additional acquisition opportunities for value-add multifamily and mixed-use properties and can be contacted at [email protected].

To learn more about how Meridian Capital Group can assist with adding value to your portfolio, please reach out to David Oheb at 212-612-0193 or email [email protected].

Players

David Oheb
Verified Badge

David Oheb

Meridian Capital Group

Broker

$863.7M

vol

78 deals

Broker
Lawrence Movtady

Lawrence Movtady

Movcap

Landlord

$120.8M

vol

9 deals

Landlord

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

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93