Updated May 12, 2025
Steven Elghanayan's EPIC LLC Secures $15M Refinance Loan For Tribeca Multifamily
217-219 West Broadway
$15,000,000
$555/SF
Building Size
26,981 SF
Asset Type
MultiFamily
Closing
Jan 18, 2024
About this deal
AI
An residential elevator building with seven units located at 217-219 West Broadway in Tribeca, Manhattan has secured a $15 million refinancing loan from Sterling Bank & Trust. The loan was obtained by EPIC LLC, led by Steven Elghanayan, the landlord of the property.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Square Footage: 26,981
- Units: 7
- Lender: Sterling Bank & Trust
- Landlord: Steven Elghanayan
EPIC LLC, managed by Steven Elghanayan, successfully acquired a $15 million refinancing loan from Sterling Bank & Trust to facilitate the property's ongoing capital requirements.
On the Map
$15,000,000
$555/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93