Capri Apartments, LLC Acquires Multifamily Building In East Village For $13M

A multifamily property located at 232 East 12th Street in the East Village neighborhood has been involved in a closed transaction. The property, which spans 65,600 square feet, consists of 68 residential units and 2 medical offices. It is owned by Capri Apartments, LLC, with Peter Davis as the landlord. Morris Dweck of ABS Altman Warwick represented the deal as the broker.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $13,000,000
• Loan Amount: $13,000,000
• Loan Terms: 10 years, full term Interest Only
• Market: East Village
• Address: 232 East 12th Street
• Square Footage: 65,600
• Units: 68 Residential, 2 medical offices

John Hancock provided the loan for the transaction, amounting to $13,000,000. The loan terms are set for 10 years with full-term interest-only payments. It is worth noting that 20 out of the total number of residential units have undergone recent renovations, potentially increasing their value.