Penn South Capital Acquires Multifamily Property On East 13th Street For $13.55M

The multifamily property located at 18-20 East 13th Street in East Village has been involved in a recent transaction. The loan, worth $13,550,000, was provided by MidCap Financial as an acquisition loan. The property is owned by Penn South Capital, represented by Parag Sawhney and Raymond Chera. The deal was facilitated by Ben Jacobs from Meridian Capital Group.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $13,550,000
• Address: 18-20 East 13th Street
• Market: East Village

Parag Sawhney and Raymond Chera, through their company Penn South Capital, are the landlords of the property. The loan, provided by MidCap Financial, aided in the acquisition of the multifamily asset. Ben Jacobs from Meridian Capital Group served as the broker representing the parties involved in the transaction.