Fort Amsterdam Capital Provides $35M Condo Inventory Loan For Multifamily Property On Upper West Side
FINANCED
$35,000,000
New York
See Similar DealsMultiFamily36,722 SF
Financed 11/04/2022
FINANCED
Fort Amsterdam Capital Provides $35M Condo Inventory Loan For Multifamily Property On Upper West Side
212 W 93rd Street
See Similar DealsMultiFamily36,722 SF
Financed 11/04/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$953
Total Square Footage:36,722 SF
Transaction Type:Loan
An apartment building located at 212 W 93rd Street in the Upper West Side has been involved in a recent transaction. This multifamily property spans approximately 36,722 square feet and consists of 20 units. The deal took place on November 4, 2022, involving a loan and various key individuals and companies.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $35,000,000
- Address: 212 W 93rd Street
- Market: Upper West Side
- Square Footage: 36,722
- Number of Units: 20
The loan for the property, amounting to $35,000,000, was obtained for the purpose of refinancing. The lender involved in this deal is Fort Amsterdam Capital, represented by Evan O'Connor and David Schwartz. The landlord of the property is Landsea Homes. Ackman Ziff, with Ross Cumming as their representative, acted as the broker in this transaction. Additionally, the loan terms are described as a Condo Inventory Loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$35,000,000.00
Monthly NOI$233,333.33
Monthly Debt Service$221,223.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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