Meridian Capital Group Arranges $18.9M Acquisition Loan For Multifamily In New York
229 East 21st Street, New York City, New York 10010, United States
$18,932,562
Building Size
—
Asset Type
MultiFamily
Closing
May 2, 2022
AI
The multifamily property located at 229-233 East 21st Street in New York has recently been involved in a loan transaction. The loan, valued at $18,932,562, was obtained for the purpose of acquiring the property.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $18,932,562
- Market: New York
- BROKERS: Simon Rosenfeld & Bryan Grimm - Meridian Capital Group
The loan was secured by Simon Rosenfeld and Bryan Grimm from Meridian Capital Group. They represented the interested parties in this acquisition deal.
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
0.84%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93