Updated Oct 29, 2024
Nationwide Life Insurance Company Provides $26M Refinance Loan For East Harlem Multifamily Property
2182-2190 Third Avenue
$26,000,000
$264/SF
Building Size
98,184 SF
Asset Type
MultiFamily
Closing
Mar 2, 2023
About this deal
AI
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.
On the Map
$26,000,000
$264/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93