Updated Oct 28, 2024
Signature Bank Provides $27M Refinance Loan For 76-Unit Multifamily Property On West 22nd Street, Manhattan
212 West 22nd Street, New York City, New York 10011, United States
$27,000,000
Units
76
Asset Type
MultiFamily
Closing
Aug 21, 2022
About this deal
AI
The multifamily property located at 212 West 22nd Street in Manhattan recently underwent a refinancing transaction. The property features 76 units and is owned by S.W. Management, represented by Stanley Wasserman. The loan for this transaction was provided by Signature Bank in the amount of $27,000,000.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $27,000,000
- Address: 212 West 22nd Street
- Market: Manhattan
- Units: 76
- Lender: Signature Bank
- Landlord: S.W. Management - Stanley Wasserman
- Loan Type: Refinance
This refinancing deal was facilitated by Signature Bank, providing the necessary funds for the transaction. S.W. Management, led by Stanley Wasserman, acted as the landlord in this process. With 76 units, the multifamily property at 212 West 22nd Street in Manhattan has been able to secure a loan of $27,000,000 to support its ongoing operations and investments.
Players
New York 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
0.59%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93