S.W. Management Refinances Multifamily Property On 7th Avenue In Chelsea For $27.5M - Signature Bank Provides Loan
FINANCED
$27,500,000
New York
See Similar DealsMultiFamily76,450 SF
Financed 08/10/2022
FINANCED
S.W. Management Refinances Multifamily Property On 7th Avenue In Chelsea For $27.5M - Signature Bank Provides Loan
196 7th Avenue, New York City, New York 10011, United States
See Similar DealsMultiFamily76,450 SF
Financed 08/10/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$359
Total Square Footage:76,450 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 196 7th Avenue in the Chelsea market. The property spans a total of 76,450 square feet and consists of 77 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $27,500,000
- Loan Type: Refinance
The lender in this transaction is Signature Bank, represented by Konstantinos Venetsanakos. The landlord of the property is S.W. Management, with Alan Wasserman as their representative.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$27,500,000.00
Monthly NOI$183,333.33
Monthly Debt Service$173,818.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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