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

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].