David Werner Real Estate Investments Secures $135 Million Acquisition Loan For Multifamily At 219 East 42nd Street
FINANCED
$135,000,000
New York
See Similar DealsMultiFamily937,000 SF
Financed 01/29/2025
FINANCED
David Werner Real Estate Investments Secures $135 Million Acquisition Loan For Multifamily At 219 East 42nd Street
219 East 42nd Street
See Similar DealsMultiFamily937,000 SF
Financed 01/29/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$144
Total Square Footage:937,000 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 219 East 42nd Street in the Midtown East market. The property spans a substantial 937,000 square feet and includes a total of 1,600 units. The loan amount for the acquisition was $135,000,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $135,000,000
- Address: 219 East 42nd Street
- Market: Midtown East
- Asset Size: 937,000 SF
- Units: 1,600
- Lender: Ran Eliasaf - Northwind Group
- Landlord: David Werner - David Werner Real Estate Investments & Metro Loft
- Broker Representatives: Jordan Roeschlaub & Adam Spies - Newmark
- Loan Type: Acquisition
The deal involved key individuals including lender Ran Eliasaf, landlord David Werner, and broker representatives Jordan Roeschlaub and Adam Spies. Each played a crucial role in facilitating this acquisition in the multifamily sector.
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LENDER
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$135,000,000.00
Monthly NOI$900,000.00
Monthly Debt Service$853,291.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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