Lalezarian Properties Refinances Midtown East Multifamily For $60M
FINANCED
$60,000,000
New York
See Similar DealsMultiFamily120,000 SF
Financed 10/21/2022
FINANCED
Lalezarian Properties Refinances Midtown East Multifamily For $60M
232 East 54th Street, New York City, New York 10022, United States
See Similar DealsMultiFamily120,000 SF
Financed 10/21/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$500
Total Square Footage:120,000 SF
Transaction Type:Loan
The multifamily property located at 232 East 54th Street, in the Midtown East neighborhood of Manhattan, has recently undergone a loan refinancing transaction. The property spans approximately 120,000 square feet and consists of 130 units. The transaction was completed on 10/21/2022.
Summary of transaction details
- Asset Type: Multifamily
- Address: 232 East 54th Street
- Market: Midtown East, Manhattan
- Square Footage: 120,000
- Units: 130
The loan for this transaction was provided by Bank of New York Mellon. The loan amount was $60,000,000, and it was granted for the purpose of refinancing. Kamal Yagubov from Bank of New York Mellon represented the lender in this deal. Lalezarian Properties, represented by Kevin Lalezarian, was the landlord involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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