Updated Aug 26, 2025
Mendel Tessler Secures $7.5 Million Refinance Loan From Spencer Savings Bank For Multifamily Asset
190 East 205th Street
$7,500,000
Units
25
Asset Type
MultiFamily
Closing
Jun 25, 2025
About this deal
AI
The asset involved in this transaction is a newly built 25-unit multifamily residential building located at 190 East 205th Street in the Bedford Park neighborhood of the Bronx. The property is part of a refinancing deal amounting to $7,500,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,500,000
- Asset Address: 190 East 205th Street
- Market: Bedford Park, Bronx
- Asset Units: 25
- Lender: Spencer Savings Bank
- Landlord: Mendel Tessler
- Loan Type: Refinance
Mendel Tessler’s 190 E 205 LLC is responsible for securing the refinance loan from Spencer Savings Bank for the multifamily property, handling the financing necessary for the newly constructed residential building.
On the Map
$7,500,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.12%
Cash-on-Cash
-0.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93