Dhiren Mehta Secures $2M Loan For Bronx Multifamily Property With JP Morgan Chase
FINANCED
$2,000,000
New York
See Similar DealsMultiFamily2,486 SF
Financed 05/07/2021
FINANCED
Dhiren Mehta Secures $2M Loan For Bronx Multifamily Property With JP Morgan Chase
2406 Westchester Avenue, Bronx, NY 10461
See Similar DealsMultiFamily2,486 SF
Financed 05/07/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$804
Total Square Footage:2,486 SF
Transaction Type:Loan
The multifamily property located at 2406 Westchester Avenue in Bronx has recently undergone a closed transaction. The loan for this property was provided by JP Morgan Chase. The landlord responsible for this property is Dhiren Mehta. Simon Rosenfeld from Meridian Capital Group represented the seller in this deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,000,000
- Loan Terms: 7 Year Term, Fixed Rate of 3.00%, 30 Year Amortization
- Image: Simon Rosenfeld
- Date: 05/07/2021
- Address: 2406 Westchester Avenue
- Market: Bronx
This transaction involved key individuals and companies. Simon Rosenfeld represented the seller as the broker from Meridian Capital Group. The loan was secured from JP Morgan Chase. Dhiren Mehta served as the landlord for the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,000,000.00
Monthly NOI$13,333.33
Monthly Debt Service$12,641.36
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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