Updated Dec 14, 2024
BRP Development Secures $56.8M Loan For Harlem Multifamily
2341 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA
$56,800,000
$28/SF
Building Size
2,000,000 SF
Asset Type
MultiFamily
Closing
Nov 26, 2018
About this deal
AI
The multifamily property located at 2341-2359 Adam Clayton Powell Jr Boulevard in Harlem has been closed on a transaction. The property spans approximately 200,000 square feet and was developed by BRP Development.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $56,800,000
- Lender: Square Mile Capital Management
- Landlord/Developer: BRP Development
- Address: 2341-2359 Adam Clayton Powell Jr Boulevard
- Market: Harlem
- SF: 200,000
Meredith Marshall and Geoff Flournoy represented the respective parties involved in the transaction.
The multifamily loan at 2341 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA in New York, New York financed for $56.8M in 2018. The building is 2,000,000 square feet, implying about 28 per square foot on the published price. This page is the New York, New York file for the 2341 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 2341 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA around 2018. Published consideration for 2341 Adam Clayton Powell Jr Blvd, New York, NY 10030, USA is $56.8M, dated 2018. Cite this BRP Development Secures $56.8M Loan For Harlem Multifamily loan when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93