Nationwide Life Insurance Company Provides $26M Refinance Loan For East Harlem Multifamily Property
FINANCED
$26,000,000
New York
See Similar DealsMultiFamily98,184 SF
Financed 03/02/2023
FINANCED
Nationwide Life Insurance Company Provides $26M Refinance Loan For East Harlem Multifamily Property
2182-2190 Third Avenue
See Similar DealsMultiFamily98,184 SF
Financed 03/02/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$264
Total Square Footage:98,184 SF
Transaction Type:Loan
The multifamily property located at 2182-2190 Third Avenue in East Harlem, Manhattan is the subject of a recent loan transaction. The property has a building square footage (BSF) of 143,380 and a total square footage (SF) of 98,184. The loan, which was secured for refinancing purposes, was facilitated by Nationwide Life Insurance Company.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Address: 2182-2190 Third Avenue
- Market: East Harlem, Manhattan
- Asset Type: Multifamily
- BSF: 143,380
- SF: 98,184
The loan was arranged by Michael C. Beidelman, representing Nationwide Life Insurance Company. The landlord involved in this transaction is Muss Development, with Jason A. Muss serving as their representative.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$26,000,000.00
Monthly NOI$173,333.33
Monthly Debt Service$164,337.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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