Updated Feb 16, 2024
First Republic Bank Provides $15.7M Loan For Multifamily Portfolio In Upper Manhattan
183 Pinehurst Ave, New York, NY 10033, USA
$15,740,000
$491/SF
Building Size
32,000 SF
Asset Type
MultiFamily
Closing
Jun 29, 2020
About this deal
AI
A multifamily property located in Upper Manhattan has been involved in a closed transaction. The property includes the following addresses: 183 Pinehurst Ave, 86 Haven Ave, 112 Haven Ave, 74 Nagle Ave, 3133-3137 Broadway, 707 West 171st Street, 10 Adrian Ave, 608 West 150th Street, and 715 West 172nd Street. The loan image shared by @SimonRosenfeldNYC on June 30, 2020, provides a visual representation of the transaction.
Summary of transaction details
- Property Type: Multifamily
- Lender: First Republic Bank
- Landlord: Amir Cohen
- Loan Amount: $15,740,000
- Loan Terms: 12 years
First Republic Bank served as the lender in this transaction. The property's landlord is Amir Cohen. The loan amount for the transaction was $15,740,000, with a loan term of 12 years.
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
1.01%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93