Updated Oct 29, 2024
Naftali Group Secures $43M Loan For Multifamily Property In Chelsea
The Arthur, 245 W 25th St, New York, NY 10001, USA
$43,000,000
$1,083/SF
Building Size
39,704 SF
Asset Type
MultiFamily
Closing
Jul 7, 2020
About this deal
AI
The multifamily property located at 245 West 25th Street in Chelsea was recently involved in a closed transaction. The property, owned by Naftali Group, received a loan from helaba''>Helaba in the amount of $43,000,000. The property consists of 67 units with a total square footage of 89,186. The building itself spans 39,704 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $43,000,000
- Address: 245 West 25th Street
- Market: Chelsea
- Lender: Helaba
- Landlord: Naftali Group
- Units: 67
- Total Square Footage: 89,186
This transaction involved the collaboration between the borrower, Naftali Group, and the lender, Helaba. The loan provided by Helaba allowed Naftali Group to further invest in the multifamily property located at 245 West 25th Street. This strategic partnership between the two parties highlights their commitment to the growth and development of the Chelsea market.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.37%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93