Bernstein Real Estate Secures $23M Refinance Loan For Chelsea Multifamily Property
211 West 29th Street, New York City, New York 10001, United States
$23,000,000
$422/SF
Building Size
54,441 SF
Asset Type
MultiFamily
Closing
Aug 1, 2022
AI
The multifamily property located at 211 West 29th Street in Chelsea has recently undergone a refinancing transaction. The property spans a total area of 54,441 square feet and consists of 55 residential units. The loan amount for this refinancing deal is $23,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $23,000,000
- Address: 211 West 29th Street
- Market: Chelsea
- Square Footage: 54,441
- Units: 55
- Lender: Signature Bank - Zachary Bermudez
- Landlord: Bernstein Real Estate - Vincent Terranova
- Loan Type: Refinance
The lender involved in this refinancing deal is Signature Bank, represented by Zachary Bermudez. The landlord, Bernstein Real Estate, is represented by Vincent Terranova.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93