Updated Nov 19, 2023
Related Companies Obtains $18M Refinancing Loan From KeyBank For Inwood Properties
210 Sherman Avenue New York, New York 10034, Usa & 546 West 207th Street
$18,000,000
$66/SF
Building Size
135,513 SF
Asset Type
MultiFamily
Closing
Jun 8, 2023
About this deal
AI
The Related Companies has obtained a refinancing loan valued at $18 million from KeyBank for two properties in Inwood, Manhattan. The properties involved in this transaction include a multifamily building with 126 units located at 210 Sherman Avenue and another property at 546 West 207th Street, which is a condominium. The total square footage of the properties is 135,513 square feet.
Summary of transaction details
- Property Type: Multifamily & Condo
- Transaction Amount: $18,000,000
- Address: 210 Sherman Avenue & 546 West 207th Street
- Market: Inwood, Manhattan
- Units: 126
The loan was provided by KeyBank, while the landlord and borrower in this transaction is the Related Companies. The purpose of the loan is to refinance the properties, providing Related Companies with financial flexibility.
Overall, this refinancing loan of $18 million from KeyBank enables the Related Companies to optimize their financial strategy for the two properties in Inwood, Manhattan.
Players
's-Hertogenbosch 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
0.88%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93