Updated Oct 29, 2024
New York Community Bank Provides $9.2M Loan For Multifamily Property On 240 East 175th Street In Tremont
240 E 175th St, The Bronx, NY 10457, USA
$9,200,000
$7/SF
Building Size
1,203,240 SF
Asset Type
MultiFamily
Closing
Aug 5, 2020
About this deal
AI
The multifamily property located at 240 East 175th Street in the Tremont market has undergone a recent transaction. The property has a total square footage of 120,324 and consists of 119 units. The lot dimensions measure 190 ft x 145 ft.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $9,200,000
- Lender: New York Community Bank
- Landlord: Chestnut Holdings – New York
New York Community Bank provided a loan of $9,200,000 for the transaction. Chestnut Holdings – New York serves as the landlord for the property.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.72%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93