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Customers Bank Provides $47.9M Refinance Loan For Multifamily Property In Castle Hill

Property Image
FINANCED
$47,925,000

New York

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MultiFamily221,208 SF
Financed 04/20/2022
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Property Image
FINANCED

Customers Bank Provides $47.9M Refinance Loan For Multifamily Property In Castle Hill

2025 Seward Avenue, The Bronx, New York 10473, United States

See Similar Deals
MultiFamily221,208 SF
Financed 04/20/2022
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$216
Total Square Footage:221,208 SF
Transaction Type:Loan

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.

Details

FINANCED
IMAGE: 04/20/2022 ADDRESS: 2025 Seward Avenue MARKET: Castle Hill ASSET TYPE: Multifamily ~ SF: 221,208 ~ UNITS: 179 LENDER: Customers Bank (@CustomersBank) LANDLORD: Leser Group LOAN AMOUNT: $47,925,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$47,925,000.00

Monthly NOI$319,500.00
Monthly Debt Service$302,918.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00