Updated Dec 4, 2024
State Farm Mutual Automobile Insurance Company Provides $40M Refinancing Loan For Upper West Side Multifamily Property On Central Park West
241 Central Park West, New York City, New York 10024, United States
$40,000,000
$157/SF
Building Size
253,749 SF
Asset Type
MultiFamily
Closing
Aug 3, 2022
About this deal
AI
The property involved in this transaction is located at 241 Central Park West in the Upper West Side market. It is a multifamily asset with a total square footage of 253,749. The property consists of 140 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $40,000,000
- Address: 241 Central Park West
- Market: Upper West Side
- Square Footage: 253,749
- Number of Units: 140
The lender involved in the transaction is State Farm Mutual Automobile Insurance Company. The landlord of the property is Rudin Management. The loan amount for the transaction is $40,000,000, and it is a refinancing loan.
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
0.40%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93