facebook
TradedTraded
    Home
    Search
    Closings
    Listings
    On Market
    Off Market
    Add a listing
    Vaults
    shh
    Rankings
    News
    Data
    Socials
    More


Messages

Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Multifamily

/

Loan

/

227 Edgecombe Avenue, New Y...

Updated Sep 5, 2024

Mordechai Tasma Refinances Multifamily Property In Harlem For $1.5M - Abe Mann Represents As The Broker
FINANCEDMultiFamily

Mordechai Tasma Refinances Multifamily Property In Harlem For $1.5M - Abe Mann Represents As The Broker

227 Edgecombe Avenue, New York, NY 10030, USA

$1,500,000

$588/SF

Building Size

2,550 SF

Asset Type

MultiFamily

Closing

Feb 27, 2019

About this deal

AI

The property involved in this closed transaction is a multifamily asset located at 227 Edgecombe Ave in Harlem. The loan for this property was a refinance with a loan amount of $1,500,000. The landlord for this property is Mordechai Tasma. The lender for the refinance loan is Silver Hill Funding. The broker representing this transaction is Abe Mann from Progress Capital.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $1,500,000
  • Address: 227 Edgecombe Ave
  • Market: Harlem
  • Landlord: Mordechai Tasma
  • Lender: Silver Hill Funding
  • Broker: Abe Mann - Progress Capital

This transaction showcases the collaboration between Mordechai Tasma, the landlord of the property, and Abe Mann, a broker representing the deal through Progress Capital. The refinance loan provided by Silver Hill Funding played a significant role in this transaction, providing the necessary funding for the property.

Players

Abe Mann

Hudson Atlantic Capital

Broker

$308.6M

vol

46 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Deal FAQ

About $588 per square foot on a published $1.5M for 2,550 square feet (2019).

Visit Abe Mann to view all their deals.

Browse New York multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

10.58%

Cash-on-Cash

-3.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets