Updated Nov 17, 2023
Son Dinh Tran Refinances Multifamily Property In Chelsea, Manhattan For $8.7M
214 West 30th Street
$8,700,000
$286/SF
Building Size
30,360 SF
Asset Type
MultiFamily
Closing
Feb 23, 2023
About this deal
AI
The property involved in this transaction is a multifamily building located at 214 West 30th Street in Chelsea, Manhattan. The building comprises 11 units and has a total square footage of 30,360. The transaction is a refinance loan for an amount of $8,700,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,700,000
- Units: 11
- Square Footage: 30,360
- Address: 214 West 30th Street
- Market: Chelsea, Manhattan
The loan for this transaction is provided by Patriot Bank, with Tommy Tran acting as the representative. The landlord of the property is Son Dinh Tran.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.82%
Cash-on-Cash
-0.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93