HAP Investments Refinances Multifamily Properties In East Harlem For $76.8M
FINANCED
$76,800,000
New York
See Similar DealsMultiFamily
Financed 12/16/2021
FINANCED
HAP Investments Refinances Multifamily Properties In East Harlem For $76.8M
2338 2nd Ave, Manhattan, New York 10035, United States
See Similar DealsMultiFamily
Financed 12/16/2021
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$76,800,000.00
Monthly NOI$512,000.00
Monthly Debt Service$485,428.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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