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
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