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SKF Development Refinances $37.2 Million Loan On 113-Unit Multifamily At 2499 Sedgwick Avenue
FINANCED
$37,200,000
New York
See Similar DealsMultiFamily120,781 SF
Financed 10/11/2024
FINANCED
SKF Development Refinances $37.2 Million Loan On 113-Unit Multifamily At 2499 Sedgwick Avenue
2499 Sedgwick Avenue
See Similar DealsMultiFamily120,781 SF
Financed 10/11/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$308
Total Square Footage:120,781 SF
Transaction Type:Loan
The property asset involved is a 113-unit multifamily residential building located at 2499 Sedgwick Avenue in the Fordham Manor neighborhood of the Bronx. This asset encompasses a total square footage of 120,781 and has undergone a refinancing transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $37,200,000
- Address: 2499 Sedgwick Avenue
- Market: Fordham Manor, Bronx
- Lender: Craig Zajac & Ross Dehmen - Metropolitan Commercial Bank
- Landlord: Rickard Gustafson - SKF Development
- Loan Type: Refinance
This transaction was facilitated by Craig Zajac and Ross Dehmen, representing Metropolitan Commercial Bank, who provided the refinancing for the property. The landlord, Rickard Gustafson from SKF Development, managed the loan agreement, marking a significant financial move for the property's operations and investment.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,200,000.00
Monthly NOI$248,000.00
Monthly Debt Service$235,129.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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