Updated Jun 5, 2025
Dhiren Mehta Secures $2M Loan For Bronx Multifamily Property With JP Morgan Chase
2406 Westchester Avenue, Bronx, NY 10461
$2,000,000
$804/SF
Building Size
2,486 SF
Asset Type
MultiFamily
Closing
May 6, 2021
About this deal
AI
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.
On the Map
$2,000,000
$804/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93