Sheridan Capital Provides $8.5M Bridge Loan For Multifamily In Syracuse
FINANCED
$8,500,000
New York
See Similar DealsMultiFamily127,684 SF
Financed 03/06/2024
FINANCED
Sheridan Capital Provides $8.5M Bridge Loan For Multifamily In Syracuse
212 Dorchester Avenue
See Similar DealsMultiFamily127,684 SF
Financed 03/06/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$66
Total Square Footage:127,684 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,500,000.00
Monthly NOI$56,666.67
Monthly Debt Service$53,725.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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