Bernstein Real Estate Secures $23M Refinance Loan For Chelsea Multifamily Property
FINANCED
$23,000,000
New York
See Similar DealsMultiFamily54,441 SF
Financed 08/02/2022
FINANCED
Bernstein Real Estate Secures $23M Refinance Loan For Chelsea Multifamily Property
211 West 29th Street, New York City, New York 10001, United States
See Similar DealsMultiFamily54,441 SF
Financed 08/02/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$422
Total Square Footage:54,441 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,000,000.00
Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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