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1875 Lexington Avenue

Updated Jan 16, 2025

Tahari Capital Secures $8.87 Million Acquisition Loan From Esquire Bank For East Harlem Multifamily
FINANCEDMultiFamily

Tahari Capital Secures $8.87 Million Acquisition Loan From Esquire Bank For East Harlem Multifamily

1875 Lexington Avenue

$8,875,000

$295/SF

Building Size

29,995 SF

Asset Type

MultiFamily

Closing

Dec 31, 2024

About this deal

AI

The property asset involved in this transaction is a multifamily building located at 1875 Lexington Avenue, East Harlem, Manhattan. It consists of 29,995 square feet and contains 38 units. The acquisition loan for this property amounts to $8,875,000, facilitated by Esquire Bank.

Summary of transaction details:

The financing for Tahari Capital was arranged by the capital advisory group at Tahari Realty, which specializes in various aspects of real estate brokerage including Investment Sales, Retail Leasing, Office Leasing, Capital Advisory, and Luxury Residential Apartment Dispositions. The team includes Adam Croman, Partner & COO, and Jaden Lander, Real Estate Analyst.

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$8,875,000

$295/SF

MultiFamily

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Players

Jordan Sutton

JGS Realty GRP LLC

Broker

$246.4M

vol

33 deals

Broker
Esquire Bank
Esquire BankLender
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $295 per square foot on a published $8.9M for 29,995 square feet (2024).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.79%

Cash-on-Cash

-0.51%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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