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212 West 22nd Street, New Y...

Updated Oct 28, 2024

Signature Bank Provides $27M Refinance Loan For 76-Unit Multifamily Property On West 22nd Street, Manhattan
FINANCEDMultiFamily

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

Signature Bank
Signature BankLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $355.3K per unit across 76 units on a published $27M (2022).

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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

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