NYCHA, HPD, And HDC Provide $245M Loan For Multifamily Property On Watson Avenue In Bronx & Bedford-Stuyvesant
1810 Watson Avenue, Bronx, NY, USA
$245,000,000
$731/SF
Building Size
335,129 SF
Asset Type
MultiFamily
Closing
Jul 15, 2021
AI
The multifamily property located at 1810 Watson Avenue in Bronx & Bedford-Stuyvesant has been involved in a recent loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $245,000,000
- Address: 1810 Watson Avenue
- Market: Bronx & Bedford-Stuyvesant
- Lender: New York City Housing Authority (NYCHA), NYC Department of Housing Preservation And Development (HPD) - Louise Carroll & NYC Housing Development Corporation (HDC)
- Landlord: Urban Builders Collaborative LLC, RiseBoro Community Partnership Inc. & Selfhelp Realty Group
- Units: 393
The loan amount for this transaction is $245,000,000.
The lender involved in the deal includes New York City Housing Authority (NYCHA), NYC Department of Housing Preservation And Development (HPD) represented by Louise Carroll, and NYC Housing Development Corporation (HDC).
The property is owned by Urban Builders Collaborative LLC, RiseBoro Community Partnership Inc., and Selfhelp Realty Group.
Players
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
0.06%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93