IceCapGroup Provides $9M Loan For Bronx Multifamily Property At 222 Echo Pl
FINANCED
$9,000,000
New York
See Similar DealsMultiFamily27,575 SF
Financed 04/14/2021
FINANCED
IceCapGroup Provides $9M Loan For Bronx Multifamily Property At 222 Echo Pl
222 Echo Place, Bronx, NY 10457, USA
See Similar DealsMultiFamily27,575 SF
Financed 04/14/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$326
Total Square Footage:27,575 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$9,000,000.00
Monthly NOI$60,000.00
Monthly Debt Service$56,886.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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