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Mendel Tessler Secures $7.5 Million Refinance Loan From Spencer Savings Bank For Multifamily Asset
FINANCED
$7,500,000
New York
See Similar DealsMultiFamily
Financed 06/25/2025
FINANCED
Mendel Tessler Secures $7.5 Million Refinance Loan From Spencer Savings Bank For Multifamily Asset
190 East 205th Street
See Similar DealsMultiFamily
Financed 06/25/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,500,000.00
Monthly NOI$50,000.00
Monthly Debt Service$47,405.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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