Peapack-Gladstone Bank Provides $34.8M Refinance Loan For Bronx Multifamily Property
FINANCED
$34,775,000
New York
See Similar DealsMultiFamily100,000 SF
Financed 03/22/2022
FINANCED
Peapack-Gladstone Bank Provides $34.8M Refinance Loan For Bronx Multifamily Property
2082 Hughes Avenue, The Bronx, New York 10457, United States
See Similar DealsMultiFamily100,000 SF
Financed 03/22/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$347
Total Square Footage:100,000 SF
Transaction Type:Loan
The multifamily property located at 2082 Hughes Ave. in Bronx, Manhattan has recently undergone a refinancing transaction. The property spans approximately 100,000 square feet and consists of 269 units. The deal was facilitated by Douglas Marshall of Coratolo Associates LLC, representing the interested parties.
Summary of Transation Details
- Property Type: Multifamily
- Transaction Amount: $34,775,000
- Loan Type: Refinance
- Loan Terms: 5+5 @3.25%
- Borrower: Peapack-Gladstone Bank
Douglas Marshall of Coratolo Associates LLC played a pivotal role in the refinancing deal. For more information or to request a no-obligation quote, contact @Coratolo_Associates at 914-681-1300.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,775,000.00
Monthly NOI$231,833.33
Monthly Debt Service$219,801.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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