John Colangelo Refinances Multifamily Property In Belmont, Bronx With $5.4M Loan From Berkadia & HPD
2465 Crotona Avenue
$5,439,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 7, 2023
AI
The multifamily property located at 2465 Crotona Avenue in Belmont, Bronx was recently involved in a loan transaction. The landlord, John Colangelo, obtained a loan for the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,439,000
- Address: 2465 Crotona Avenue
- Market: Belmont, Bronx
- Lender: Berkadia & HPD
- Landlord: John Colangelo
- Brokers: Matthew Barbaccia - Brix Real Estate Advisors
An agency lender provided the principal debt for the loan, while HPD provided a rehab loan in the second position. Additional details about the loan terms were not provided in the context.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.92%
Cash-on-Cash
-0.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93