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Witnick Real Estate Refinances Kips Bay Multifamily Building For $6.2M With Arbor Realty Trust
FINANCED
$6,200,000
New York
See Similar DealsMultiFamily9,460 SF
Financed 05/11/2023
FINANCED
Witnick Real Estate Refinances Kips Bay Multifamily Building For $6.2M With Arbor Realty Trust
212 East 29th Street, New York, NY, 10016
See Similar DealsMultiFamily9,460 SF
Financed 05/11/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$655
Total Square Footage:9,460 SF
Transaction Type:Loan
Witnick Real Estate Partners recently refinanced a 13-unit residential building in Kips Bay, Manhattan for a loan amount of $6.2 million. The property, located at 212 East 29th Street, spans a total area of 9,460 square feet. Arbor Realty Trust provided the refinancing loan for this multifamily asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,200,000
- Units: 13
- Square Footage: 9,460
- Address: 212 East 29th Street
- Market: Kips Bay, Manhattan
The lender for this refinancing deal is Arbor Realty Trust, with Isaac Abraham representing the company. On the other hand, the landlord, Witnick Real Estate Partners, was represented by Kenneth Dowling, confirming that the transaction was successfully completed.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,200,000.00
Monthly NOI$41,333.33
Monthly Debt Service$39,188.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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