facebook
Traded Co logo
Submit
Daily limit: 0/10

Bravo Capital Funds $57.8M Loan For Ithacan Residences Multifamily Deal

Property Image
FINANCED
$57,800,000

New York

See Similar Deals
MultiFamily
Financed 06/20/2024
the dealplayerscompscontact
Property Image
FINANCED

Bravo Capital Funds $57.8M Loan For Ithacan Residences Multifamily Deal

215 East Green Street

See Similar Deals
MultiFamily
Financed 06/20/2024
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The 13-story Ithacan Residences, a 200-unit apartment complex located at 215 East Green Street in Ithaca, N.Y., secured a $57.8 million loan under HUD's 223(f) program. The property, owned by Aptitude Development, boasts amenities such as a rooftop terrace and coworking spaces. The prime location near Cornell University adds to the appeal of this multifamily asset in Ithaca.

Summary of transaction details:

  • Property Type: MultiFamily
  • Transaction Amount: $57,800,000
  • Market: Ithaca
  • Lender: Aaron Krawitz - Bravo Capital
  • Units: 200

Bravo Capital, represented by Aaron Krawitz, played a crucial role in issuing the loan for Ithacan Residences. The partnership between Bravo Capital and Aptitude Development underscores the confidence in the potential of this upscale apartment complex near Cornell University.

Players

Bravo Capital
Bravo Capital
BROKERAGE
Bravo Capital
Bravo Capital
LENDER

Details

FINANCED
IMAGE: Aaron Krawitz DATE: 06/20/2024 ADDRESS: 215 East Green Street MARKET: Ithaca ASSET TYPE: MultiFamily ~ UNITS: 200 LENDER: Aaron Krawitz - Bravo Capital LOAN AMOUNT: $57,800,000 NOTE: Bravo Capital issued a $57.8 million loan under HUD's 223(f) program for Ithacan Residences, a 200-unit apartment complex in Ithaca, N.Y. The 13-story property, owned by Aptitude Development, is located near Cornell University and offers amenities like a rooftop terrace and coworking spaces.

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$57,800,000.00

Monthly NOI$385,333.33
Monthly Debt Service$365,335.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00