Updated Sep 9, 2024
Michael Helmreich Of Meridian Capital Group Arranges $2M Refinance Loan For Multifamily Property On East 14th Street In New York
226 East 14th Street
$2,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 21, 2022
About this deal
AI
The multifamily property located at 226-230 East 14th Street in New York has recently undergone a loan refinancing transaction. The loan amount for this deal was $2,000,000, with a fixed rate of 4.40%. The loan terms are set at 10 years fixed, with a 10-year interest-only amortization period.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Address: 226-230 East 14th Street
- Market: New York
- Loan Type: Refinance
- Loan Terms: 10 Years Fixed, Rate: 4.40%, Amort: 10 Years IO
This loan refinancing transaction was facilitated by Michael Helmreich, a representative from the Meridian Capital Group.
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
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93