Updated Feb 16, 2024
Cross River Bank Provides $1.3M Loan For Multifamily Property Acquisition On Daly Avenue, Bronx
2076 Daly Avenue, Bronx, NY 10460, USA
$1,300,000
$124/SF
Building Size
10,440 SF
Asset Type
MultiFamily
Closing
Jul 7, 2020
About this deal
AI
The multifamily property located at 2076 Daly Avenue in the Bronx has recently undergone a loan transaction. The loan amount for this transaction is $1,300,000. The lender involved in this deal is Cross River Bank, while the landlord is Sean Murray. The broker representing this transaction is Matthew Murphy from ERG CRE.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,300,000
- Lender: Cross River Bank
- Landlord: Sean Murray
- Broker: Matthew Murphy - ERG CRE
This transaction showcases the collaboration between Cross River Bank, as the lender, and Sean Murray as the landlord. Matthew Murphy from ERG CRE acted as the broker for this multifamily property loan transaction at 2076 Daly Avenue in the Bronx.
On the Map
$1,300,000
$124/SF
MultiFamily
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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
12.20%
Cash-on-Cash
-3.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93