Ralph Gelley Of Sheridan Capital Secures $4.1M Bridge Loan For Soho Multifamily Property
FINANCED
$4,100,000
New York
See Similar DealsMultiFamily4,160 SF
Financed 12/20/2024
FINANCED
Ralph Gelley Of Sheridan Capital Secures $4.1M Bridge Loan For Soho Multifamily Property
180 Spring Street
See Similar DealsMultiFamily4,160 SF
Financed 12/20/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$985
Total Square Footage:4,160 SF
Transaction Type:Loan
The property asset is a multifamily building located at 180 Spring Street in the Soho market, encompassing 4,160 square feet. The transaction involved a loan amount of $4,100,000 classified as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,100,000
- Loan Type: Bridge
- Lender: Sheridan Capital
- Broker: GPARENCY
- Date: 12/20/2024
The transaction was facilitated by Sheridan Capital as the lender, with GPARENCY acting in the role of broker. This arrangement highlights the collaboration between the financial institution and brokerage firm within the context of the loan agreement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,100,000.00
Monthly NOI$27,333.33
Monthly Debt Service$25,914.79
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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