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Coutinho Properties Refinances Two Manhattan Residential Properties For $13.1M Loan
FINANCED
$13,100,000
New York
See Similar DealsMultiFamily55,727 SF
Financed 07/31/2023
FINANCED
Coutinho Properties Refinances Two Manhattan Residential Properties For $13.1M Loan
180 Claremont Ave New York, NY 10027, USA
See Similar DealsMultiFamily55,727 SF
Financed 07/31/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$235
Total Square Footage:55,727 SF
Transaction Type:Loan
Coutinho Properties, operating through Claremont Properties LLC, has secured a refinance loan of $13.1 million from JPMorgan Chase for two residential properties in Manhattan. The properties include a 36-unit elevator building located at 180 Claremont Avenue in Morningside Heights and a 22-unit walkup building located at 317 East 75th Street in Lenox Hill. The combined gross square footage of these properties is 55,727 with a total of 58 units.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $13,100,000
- Loan Type: Refinance
- Lender: JP Morgan Chase - Ursula Flores
- Landlord: Coutinho Properties - Charles G. V. Coutinho
The loan amount of $13.1 million was provided by JP Morgan Chase, with Ursula Flores acting as the representative from the bank. Charles G. V. Coutinho, representing Coutinho Properties, secured the loan for the residential properties. These properties are located in the Morningside Heights and Lenox Hill neighborhoods of Manhattan.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,100,000.00
Monthly NOI$87,333.33
Monthly Debt Service$82,800.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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