Goldman Sachs Private Bank Provides $97M Construction Loan In East Harlem
2005 3rd Avenue
$97,000,000
$490/SF
Building Size
197,648 SF
Asset Type
MultiFamily
Closing
Jun 18, 2024
AI
The multifamily property located at 2005 3rd Avenue in East Harlem, Manhattan spans 197,648 square feet and comprises a total of 209 units. The property was part of a recent transaction involving a construction loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $97,000,000
- Address: 2005 3rd Avenue
- Market: East Harlem, Manhattan
- Lender: Goldman Sachs Private Bank
- Landlord: Rybak Development & Fouerti Realty
- Broker: Robert Tonnessen & Aaron Niedermayer - JLL
The key individuals involved in this deal were Sergey Rybak and Elie Fouerti, representing Rybak Development & Fouerti Realty, the landlords of the property. Additionally, Albert Fouerti also played a significant role in the transaction.
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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93