facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Loan

/

222 Echo Place, Bronx, NY 1...

IceCapGroup Provides $9M Loan For Bronx Multifamily Property At 222 Echo Pl
FINANCEDMultiFamily

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

Ezra Dweck

Lender

$28.8M

vol

3 deals

Lender
Ice Cap Group
Ice Cap GroupLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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