FINANCEDMultiFamily
Nationwide Life Insurance Co Provides $26M Refinance Loan For East Harlem Multifamily Property
181 E 119th St
$26,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 24, 2023
AI
A multifamily property in East Harlem, located at 181 E 119th St, has undergone a loan refinancing transaction. The property consists of 90 units and is a part of the East Harlem market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Date: 03/24/2023
- Address: 181 E 119th St
- Market: East Harlem
- Units: 90
The loan for this transaction was provided by Nationwide Life Insurance Co. The brokers representing the deal were Chuck Cotsalas and Robert Delitsky, who worked with Northmarq.
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93