Updated May 12, 2025
LIHC Investment Group Secures $25.9M Refinance Loan From Lument For Harlem Multifamily Properties
1990 Adam Clayton Powell Junior Boulevard
$25,900,000
$282/SF
Building Size
91,675 SF
Asset Type
MultiFamily
Closing
Mar 20, 2025
About this deal
AI
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.
On the Map
$25,900,000
$282/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
0.61%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93