Fred Ohebshalom Of Gatsby Enterprises Secures $15M Refinance Loan From Amalgamated Bank In Manhattan
176 East 3rd Street
$15,000,000
$344/SF
Building Size
43,520 SF
Asset Type
MultiFamily
Closing
Feb 26, 2025
AI
The property asset involved in this transaction is a multifamily building located at 176 East 3rd Street in Alphabet City, Manhattan. It encompasses a total square footage of 43,520 and consists of 48 residential units, contributing to its value as a residential investment.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Address: 176 East 3rd Street
- Market: Alphabet City, Manhattan
- Lender: Amalgamated Bank
- Landlord: Fred Ohebshalom - Gatsby Enterprises
- Loan Type: Refinance
Key individuals involved in the transaction include Fred Ohebshalom, representing Gatsby Enterprises, who secured the refinancing loan from Amalgamated Bank. This financing supports the operational sustainability and management of the 48-unit residential building.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93