Updated Oct 28, 2024
Customers Bank Provides $47.9M Refinance Loan For Multifamily Property In Castle Hill
2025 Seward Avenue, The Bronx, New York 10473, United States
$47,925,000
$216/SF
Building Size
221,208 SF
Asset Type
MultiFamily
Closing
Apr 19, 2022
About this deal
AI
The multifamily property located at 2025 Seward Avenue in Castle Hill has recently undergone a refinancing transaction. The property spans a total square footage of 221,208 and consists of 179 units. The landlord of the property is the Leser Group.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,925,000
- Address: 2025 Seward Avenue
- Market: Castle Hill
- Square Footage: 221,208
- Units: 179
The loan for this refinancing transaction was provided by Customers Bank. The loan amount totaled $47,925,000. The Leser Group, as the landlord, facilitated 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93