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The Altmark Group Secures $96 Million Refinance Loan From Morgan Stanley For Mott Haven Multifamily
FINANCED
$96,000,000
+ 1
New York
See Similar DealsMultiFamily
Financed
FINANCED
The Altmark Group Secures $96 Million Refinance Loan From Morgan Stanley For Mott Haven Multifamily
2455 Third Avenue
See Similar DealsMultiFamily
Financed
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a 24-story multifamily apartment tower located at 2455 Third Avenue in Mott Haven, Bronx. The property consists of 264 residential units and has successfully secured a refinancing loan amounting to $96,000,000 from Morgan Stanley.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $96,000,000
- Lender: Morgan Stanley
- Landlord: The Altmark Group
- Brokers: Brad Domenico, Gideon Gil, Jack Subers & Frank Stanislaski - Cushman & Wakefield
The refinancing deal was orchestrated by The Altmark Group to enhance their asset, The Motto. The team from Cushman & Wakefield, comprising Brad Domenico, Gideon Gil, Jack Subers, and Frank Stanislaski, facilitated this transaction.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$96,000,000.00
Monthly NOI$640,000.00
Monthly Debt Service$606,785.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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