Laub Realty Refinances West Village, Washington Heights, And Hamilton Heights MultiFamily Portfolio With $12.8M Loan From PGIM
FINANCED
$12,869,000
New York
See Similar DealsMultiFamily
Financed 05/18/2023
FINANCED
Laub Realty Refinances West Village, Washington Heights, And Hamilton Heights MultiFamily Portfolio With $12.8M Loan From PGIM
237 W 10th St New York, NY 10014, USA
See Similar DealsMultiFamily
Financed 05/18/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The Laub Realty-owned three-property portfolio has undergone a significant financial transaction. Located at 237 W 10th Street, 80 Haven Avenue, and 456-468 West 148th Street, these multi-family assets encompass a total of 120 units across the West Village, Washington Heights, and Hamilton Heights neighborhoods.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $12,869,000
- Loan Type: Refinance
- Loan Terms: The three-property portfolio, spanning 120 units, was refinanced via a 10-year fixed rate non-recourse loan with interest-only payments for the entirety of the term.
Bryan Manz and Brandon Harris, representing Black Bear Capital Partners, successfully facilitated the financing for this transaction. Acting as the lender, PGIM provided the non-recourse loan to Laub Realty, allowing them to refinance the three-property portfolio. The loan offers a 10-year fixed rate with interest-only payments throughout the term.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,869,000.00
Monthly NOI$85,793.33
Monthly Debt Service$81,340.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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