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Tahari Capital Secures $1.7M Refinance Loan From FBNJ For 2118 2nd Avenue Multifamily

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FINANCED
$1,700,000
Jordan Sutton
Jaden Lander
Adam Croman
+ 1

New York

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MultiFamily5,000 SF
Financed 12/27/2024
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FINANCED

Tahari Capital Secures $1.7M Refinance Loan From FBNJ For 2118 2nd Avenue Multifamily

2118 2nd Avenue

See Similar Deals
MultiFamily5,000 SF
Financed 12/27/2024
Jordan Sutton
Jaden Lander
Adam Croman
+ 1
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$340
Total Square Footage:5,000 SF
Transaction Type:Loan

The property asset involved in this transaction is located at 2118 2nd Avenue in the East Harlem market. This multifamily asset spans 5,000 square feet and contains 4 units. The property was refinanced with a loan amount of $1,700,000.

Summary of transaction details:

The capital advisory group at Tahari Realty successfully arranged the financing for Tahari Capital. The property was purchased in 2021 for $1.8 million, followed by a comprehensive renovation. The leasing team from Tahari Realty achieved record rental rates for the property, facilitating a nearly complete cash-out refinance.

Players

Jordan Sutton
Jordan Sutton
33 deals$246.4M volume(917) 284-1406
BROKER
Jaden Lander
Tahari Realty
Jaden Lander
6 deals$19.5M volume
BROKER
Adam Croman
Tahari Realty
Adam Croman
10 deals$32.7M volume(646) 275-0203
BROKER
Jack Sash Basora
Tahari Realty
Jack Sash Basora
24 deals$17M volume(917) 969-4292
BROKER
Freedom Bank NJ
Freedom Bank NJ
LENDER

Details

FINANCED
IMAGE: Jordan Sutton, Adam Croman, Jaden Lander & Jack Basora DATE: 12/27/2024 ADDRESS: 2118 2nd Avenue MARKET: East Harlem ASSET TYPE: Multifamily ~ SF: 5,000 ~ UNITS: 4 LENDER: FBNJ LANDLORD: Tahari Capital BROKERS: Jordan Sutton (@JSutto12), Adam Croman (@AdamCroman1), Jaden Lander (@Jaden_Lander) & Jack Basora (@Sash) - Tahari Realty LOAN AMOUNT: $1,700,000 LOAN TYPE: Refinance NOTE FROM LANDLORD: The capital advisory group at Tahari Realty is proud to have arranged the financing for Tahari Capital, its parent organization. Tahari Realty is a full service brokerage that specializes in Investment Sales, Retail Leasing, Office Leasing, Capital Advisory, and Luxury Residential Apartment Dispositions. The sponsor purchased the asset in 2021 for $1.8M, and conducted a building-wide gut renovation. In addition, the leasing team at Tahari Realty leased the property at record rental rates, which resulted in a nearly complete cash-out refinance. Please contact the contact details below for your financing or leasing needs. As sponsors who have deposits with our lending relationships, we are uniquely positioned to obtain the most competitive financing terms for our clients. CAPITAL ADVISORY: Adam Croman Partner & COO mobile: (646) 275-0203 office: (212) 258-0672 [email protected] www.taharicapital.com LEASING: Jack Sash Basora Licensed Real Estate Salesperson mobile: (917) 969-4292 office: (212) 991-9089 [email protected] www.taharicapital.com

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,700,000.00

Monthly NOI$11,333.33
Monthly Debt Service$10,745.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00