Fannie Mae Provides $22M Refinance Loan For Multifamily Property In Croton-On-Hudson
2-T Skytop Dr, Croton On Hudson, NY 10520
$22,000,000
Units
524
Asset Type
MultiFamily
Closing
Aug 11, 2022
AI
The property involved in this closed transaction is a multifamily asset located at 2-T Skytop Drive in Croton-On-Hudson. The property consists of 524 units and is situated in the market of Croton-On-Hudson.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $22,000,000
- Date: 08/12/2022
- Address: 2-T Skytop Drive, Croton-On-Hudson
- Market: Croton-On-Hudson
- Units: 524
The loan for this transaction was provided by Fannie Mae. The loan amount was $22,000,000, and it was a refinance loan. The loan terms included a 10-year term and a 30-year amortization.
The broker involved in this deal was Robert Ranieri from Northmarq, representing the buyer. Robert Ranieri acted as the buyer's representative in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.72%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93