Updated Oct 28, 2024
Urban Investment Group & Goldman Sachs Provide $100M Construction Loan For Soundview Multifamily With Asland Capital Partners & Pembroke Residential Holdings As Landlords
1940 Turnbull Avenue, The Bronx, New York 10473, United States
$100,000,000
Units
154
Asset Type
MultiFamily
Closing
May 3, 2022
About this deal
AI
Located at 1940 Turnbull Ave in Soundview, this multifamily property consists of 154 units. The transaction took place on 05/04/2022 and was accompanied by an image courtesy of James H. Simmons III.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $100,000,000
- Address: 1940 Turnbull Ave
- Market: Soundview
- Lender: Urban Investment Group & Goldman Sachs
- Landlord: Asland Capital Partners & Pembroke Residential Holdings
- Loan Type: Construction
As part of the transaction, Urban Investment Group and Goldman Sachs provided a construction loan of $100,000,000. The property will be owned by Asland Capital Partners and Pembroke Residential Holdings, who represented the landlord in this deal.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93