IceCapGroup Provides $9M Loan For Bronx Multifamily Property At 222 Echo Pl
222 Echo Place, Bronx, NY 10457, USA
$9,000,000
$326/SF
Building Size
27,575 SF
Asset Type
MultiFamily
Closing
Apr 13, 2021
AI
The multifamily property located at 222 Echo Pl. in Bronx has recently undergone a closed transaction. The property consists of 44 residential units and has been the subject of a loan refinance. The loan amount for this transaction was $9,000,000. The purpose of the refinance is for heavy rehabilitation of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,000,000
The lending company involved in this transaction is IceCap Group. The representatives from IceCap Group who facilitated this loan are Ezra Dweck, Joseph Oved, and Jack Oved. They provided the financial support for the refinance of this multifamily property in Bronx.
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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93