HAP Investments Refinances Multifamily Properties In East Harlem For $76.8M
2338 2nd Ave, Manhattan, New York 10035, United States
$76,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 16, 2021
AI
Allegiant Real Estate Capital has provided a refinancing loan for three multifamily properties located in East Harlem. The properties are situated at 2338 Second Avenue, 329 Pleasant Avenue, and 2211 Third Avenue. The loan amount for this transaction is $76,800,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $76,800,000
- Lender: Allegiant Real Estate Capital - Randy Reiff
- Landlord: @HAPInvestments - Andrea Lawrence, Eran Polack, & Will Wang
- Market: East Harlem
Randy Reiff from Allegiant Real Estate Capital acted as the lender in this refinancing deal. The landlord for the properties is represented by Andrea Lawrence, Eran Polack, and Will Wang from @HAPInvestments.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93