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LIHC Investment Group Secures $25.9M Refinance Loan From Lument For Harlem Multifamily Properties
FINANCED
$25,900,000
New York
See Similar DealsMultiFamily91,675 SF
Financed 03/20/2025
FINANCED
LIHC Investment Group Secures $25.9M Refinance Loan From Lument For Harlem Multifamily Properties
1990 Adam Clayton Powell Junior Boulevard
See Similar DealsMultiFamily91,675 SF
Financed 03/20/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$282
Total Square Footage:91,675 SF
Transaction Type:Loan
The multifamily asset is located at 1990 Adam Clayton Powell Junior Boulevard and 1995 Adam Clayton Powell Junior Boulevard in Harlem, Manhattan. The properties encompass a total of 91,675 square feet across 84 units and are part of a refinancing transaction valued at $25,900,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $25,900,000
- Asset Size: 91,675 sq. ft
- Units: 84
- Address: 1990 Adam Clayton Powell Junior Boulevard & 1995 Adam Clayton Powell Junior Boulevard
- Market: Harlem, Manhattan
- Landlord: Marci Booth
- Company: LIHC Investment Group
- Loan Type: Refinance
- Lender: Lument Real Estate Capital
Marci Booth represents LIHC Investment Group in the transaction, securing the refinance loan for the two residential properties in Harlem. The deal consolidates funding for these assets, enhancing the financial structure associated with the landlord's portfolio in the area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,900,000.00
Monthly NOI$172,666.67
Monthly Debt Service$163,705.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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