Updated Feb 16, 2024
Metropolitan Commercial Bank Provides $10.1M Loan For Multifamily Property On Valentine Ave., Bronx
2086 Valentine Ave, Tremont, Bronx, NY, USA
$10,100,000
$3,393/SF
Building Size
2,976 SF
Asset Type
MultiFamily
Closing
Jul 15, 2021
About this deal
AI
Located at 2086 Valentine Ave in the Tremont neighborhood of Bronx, this multifamily property was involved in a recent transaction. The asset type of the property is multifamily, indicating that it consists of multiple residential units. The transaction took place on July 16, 2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,100,000
- Address: 2086 Valentine Ave
- Market: Tremont, Bronx
The lender for this transaction was Metropolitan Commercial Bank. The landlord of the property is Noa Lior LLC - Craig Nassi, as mentioned on BCN Development's website.
The loan amount provided for this transaction was $10,100,000, with a term of 10 years and an interest-only repayment option.
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
1.57%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93