Updated Oct 28, 2024
New York Community Bank Provides $47.5M Refinance Loan For Multifamily Property On Wallace Avenue, Pelham Parkway
2131 Wallace Avenue, The Bronx, New York 10462, United States
$47,500,000
$134/SF
Building Size
353,932 SF
Asset Type
MultiFamily
Closing
Jul 12, 2022
About this deal
AI
2131 & 2132 Wallace Avenue in Pelham Parkway is a multifamily property with a total square footage of 353,932. It consists of 347 units, making it a significant asset in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,500,000
- Address: 2131 & 2132 Wallace Avenue
- Market: Pelham Parkway
- Square Footage: 353,932
- Units: 347
The loan for this property was provided by New York Community Bank. The Parkoff Organization serves as the landlord for the transaction. The loan type for this deal is a refinance, showing a strategic financial move.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93