Updated Sep 5, 2024
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
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
10.58%
Cash-on-Cash
-3.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93