Peapack-Gladstone Bank Provides $34.8M Refinance Loan For Bronx Multifamily Property
2082 Hughes Avenue, The Bronx, New York 10457, United States
$34,775,000
$347/SF
Building Size
100,000 SF
Asset Type
MultiFamily
Closing
Mar 21, 2022
AI
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.
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
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93