BMO Provides $95M Refinance Loan For Multifamily/Mixed-Use Portfolio In New York City
1443 York Avenue, 2410 Broadway New York, NY 10024, USA, 324 West 84th Street, 245 West 51st Street & 107 West 68th Street
$95,000,000
$121/SF
Building Size
780,564 SF
Asset Type
MultiFamily
Closing
Jun 1, 2023
AI
The multifamily/mixed-use property located at 2410 Broadway, 324 West 84th Street, 245 West 51st Street, 107 West 68th Street, and 1443 York Avenue in New York City has recently undergone a loan refinancing. The property comprises 201 residential units and 11 commercial units, with a total area of 194,891 square feet.
Summary of transaction details
- Property Type: Multifamily/Mixed-Use
- Transaction Amount: $95,000,000
- Lender: BMO
- Loan Type: Refinance
- Brokers: Simon Rosenfeld - Meridian Capital Group
BMO, represented by Jeff Froccaro, provided the loan amount of $95,000,000 for the refinancing of this multifamily/mixed-use property. Simon Rosenfeld, from Meridian Capital Group, assisted in brokering the deal. This transaction allows for the continuation of property operations and further investment opportunities.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93