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Abro Management Refinances Manhattan Multifamily Property With $58M Loan From Ladder Capital
FINANCED
$58,000,000
New York
See Similar DealsMultiFamily
Financed 05/29/2025
FINANCED
Abro Management Refinances Manhattan Multifamily Property With $58M Loan From Ladder Capital
225 East 6th Street & 425 429 3rd Avenue
See Similar DealsMultiFamily
Financed 05/29/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is located at 225 East 6th Street & 425-429 Third Avenue in Manhattan. This multifamily property features a total of 188 residential units and has undergone a refinancing where it replaced a previous loan amount of $63.1 million with a new loan of $58 million.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Market: Manhattan
- Units: 188
- Lender: Brian Harris - Ladder Capital
- Landlord: Abro Management
- Loan Type: Refinance
In this deal, Brian Harris, representing Ladder Capital, facilitated the financing for Abro Management who owns the multifamily properties. The transaction involved refinancing two residential elevator buildings, improving the financial terms for the landlord.
Players
BROKERAGE
LENDER
LENDER
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,000,000.00
Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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