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22 W 90th St, New York, NY ...

Meridian Capital Group Acquires Multifamily Property On Upper West Side For $2.2M
FINANCEDMultiFamily

Meridian Capital Group Acquires Multifamily Property On Upper West Side For $2.2M

22 W 90th St, New York, NY 10024, USA

$2,200,000

$395/SF

Building Size

5,570 SF

Asset Type

MultiFamily

Closing

Nov 9, 2018

AI

The multifamily property located at 22 West 90th Street in the Upper West Side has been involved in a recent transaction. The property consists of 9 units and has a loan amount of $2,200,000. Sadoro LLC, represented by Moses Abraham, is the landlord of the property. The lender for the acquisition loan is New York Community Bank. The transaction was facilitated by Meridian Capital Group and YM Neumann.

Summary of Transaction Details:

  • Property Type: Multifamily
  • Transaction Amount: $2,200,000
  • Address: 22 West 90th Street
  • Market: Upper West Side
  • Units: 9
  • Lender: New York Community Bank
  • Landlord: Sadoro LLC – Moses Abraham
  • Broker: Meridian Capital Group

Moses Abraham, representing Sadoro LLC, acted as the landlord in this transaction. New York Community Bank provided the acquisition loan. The deal was facilitated by Meridian Capital Group and YM Neumann.

Players

Michael Newsome

NAI Global

Broker

$2.2M

vol

2 deals

Broker

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

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93