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Steven Oved Of GPS Realty NYC Secures $6.5M Refinance From JP Morgan Chase For Multifamily Asset In Murray Hill
FINANCED
$6,500,000
New York
See Similar DealsMultiFamily28,180 SF
Financed 05/15/2025
FINANCED
Steven Oved Of GPS Realty NYC Secures $6.5M Refinance From JP Morgan Chase For Multifamily Asset In Murray Hill
216 East 36th Street & 218 East 36th Street
See Similar DealsMultiFamily28,180 SF
Financed 05/15/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$230
Total Square Footage:28,180 SF
Transaction Type:Loan
The property asset involved in the transaction includes two multifamily walkup buildings located at 216 East 36th Street and 218 East 36th Street in the Murray Hill neighborhood of Manhattan. The total square footage of the asset is 14,090, consisting of 29 residential units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Loan Type: Refinance
- Lender: JP Morgan Chase
- Landlord: Steven Oved - GPS Realty NYC
- Previous Loan Amount: $7,600,000 from Webster Bank
This transaction was orchestrated by GPS Realty NYC, which is represented by Steven Oved, who coordinated the refinancing process. The refinancing effectively replaced the prior loan from Webster Bank with a new loan from JPMorgan Chase, facilitating the financial restructuring of the multifamily properties.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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