Updated Mar 11, 2025
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
About this deal
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.
On the Map
$23,000,000
$422/SF
MultiFamily
View full map
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Vincent Terranova to view all their deals.
Browse New York multifamily loans on Traded.
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