Updated Dec 4, 2024
Sheridan Capital Provides $8.5M Bridge Loan For Multifamily In Syracuse
212 Dorchester Avenue
$8,500,000
$66/SF
Building Size
127,684 SF
Asset Type
MultiFamily
Closing
Mar 6, 2024
About this deal
AI
The multifamily property located at 212 Dorchester Avenue in Syracuse spans 127,684 square feet and consists of 212 units. The loan for this property was provided by Sheridan Capital with Noam Temchin serving as the lender's representative. The loan amount secured for this transaction is $8,500,000, and it is categorized as a Bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,500,000
- Address: 212 Dorchester Avenue
- Market: Syracuse
- Asset Type: Multifamily
- Square Footage: 127,684
- Units: 212
- Lender: Sheridan Capital
- Lender's Representative: Noam Temchin
- Loan Type: Bridge
The key individuals involved in this transaction are Noam Temchin, representing Sheridan Capital as the lender for the $8,500,000 Bridge loan provided for the multifamily property at 212 Dorchester Avenue in Syracuse.
On the Map
$8,500,000
$66/SF
MultiFamily
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Players
Syracuse 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
1.87%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93