Updated Oct 28, 2024
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
$27,500,000
$359/SF
Building Size
76,450 SF
Asset Type
MultiFamily
Closing
Aug 9, 2022
About this deal
AI
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.
These are the key individuals and companies involved in the deal, providing a clear picture of the parties behind the transaction.
On the Map
$27,500,000
$359/SF
MultiFamily
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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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93