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Penn South Capital Refinances Upper West Side Multifamily Property With $10.35M Loan From Keybank Real Estate Capital

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FINANCED
$10,350,000

New York

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MultiFamily1 SF
Financed 12/05/2022
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FINANCED

Penn South Capital Refinances Upper West Side Multifamily Property With $10.35M Loan From Keybank Real Estate Capital

241 West 75th Street

See Similar Deals
MultiFamily1 SF
Financed 12/05/2022
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$10,350,000
Total Square Footage:1 SF
Transaction Type:Loan

The multifamily property located at 241 West 75th Street in the Upper West Side has undergone a refinancing transaction. The loan amount for this deal was $10,350,000. The lender involved in this transaction was Keybank Real Estate Capital. The property is owned by Penn South Capital, which includes Parag Sawhney and Raymond Chera as the landlords. The broker representing this deal was Ben Jacobs from Meridian Capital Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $10,350,000
  • Address: 241 West 75th Street
  • Market: Upper West Side

Meridian Capital Group, America's most active real estate finance and advisory firm, facilitated this transaction. They have closed over $55 billion in financing in 2022 across various property types. Ben Jacobs from Meridian Capital Group can be contacted at 212-612-0202 or [email protected] for more information about their services.

Players

Ben Jacobs
17 deals$571.4M volume(212) 612-0202
BROKER

KeyBank
LENDER

Parag Sawhney
Penn South Capital
23 deals$175.5M volume
LANDLORD

Raymond Chera
Penn South Capital
10 deals$117.4M volume
LANDLORD

Details

FINANCED
IMAGE: Parag Sawhney, Raymond Chera & Ben Jacobs DATE: 12/05/2022 ADDRESS: 241 West 75th Street MARKET: Upper West Side ASSET TYPE: Multifamily LENDER: Keybank Real Estate Capital LANDLORD: Penn South Capital - Parag Sawhney & Raymond Chera BROKER: Ben Jacobs - Meridian Capital Group LOAN AMOUNT: $10,350,000 LOAN TYPE: Refinance NOTE FROM @Meridian.Capital.Group: Meridian Capital Group is America’s most active real estate finance and advisory firm, having closed over $55 billion in financing in 2022 across all property types, including multifamily, office, industrial, retail, hotel, mixed-use, as well as construction. We represent many of the world’s leading real estate investors and developers. For more information on how Meridian can add value to your portfolio please contact: - Ben Jacobs - 212-612-0202 - [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,350,000.00

Monthly NOI$69,000.00
Monthly Debt Service$65,419.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00