Updated Aug 7, 2026
Scharfman Organization Secures $20.9M Refinancing From J.P. Morgan Chase For Upper West Side Properties
2261 Broadway & 265 West 81st Street
$20,900,000
$104/SF
Building Size
100,491 SF
Asset Type
MultiFamily
Closing
Aug 2, 2026
About this deal
AI
The transaction involves refinancing for two residential elevator buildings situated at 2261 Broadway and 265 West 81st Street in the Upper West Side market. The asset encompasses a total of 100,491 square feet and includes 79 units. The refinancing amount secured was $20,900,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $20,900,000
- Asset Square Footage: 100,491
- Units: 79
- Lender: J.P. Morgan Chase
- Landlord: Scharfman Organization
- Loan Type: Refinance
Scharfman Organization was the entity that secured the refinancing from J.P. Morgan Chase, focusing on the two multi-family residential properties within a vibrant urban setting, further enhancing their investment portfolio.
On the Map
$20,900,000
$104/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93