Updated Dec 4, 2024
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
About this deal
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.
On the Map
$97,000,000
$490/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Aaron Niedermayer to view all their deals.
Browse New York multifamily loans on Traded.
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