Updated Feb 16, 2024
Seth Haberman Refinances Upper West Side Multifamily With $29.5M Loan From Morgan Stanley Bank
251 Central Park West, Manhattan, New York, NY, USA
$29,500,000
$230/SF
Building Size
128,194 SF
Asset Type
MultiFamily
Closing
Sep 30, 2021
About this deal
AI
251 Central Park West, located in the Upper West Side market, has recently undergone a refinancing transaction. The multifamily property spans over 128,194 square feet and consists of 68 units. Seth Haberman, the landlord, was involved in the deal.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $29,500,000
- Lender: Morgan Stanley Bank
- Landlord: Seth Haberman
- Loan Type: Refinance
Morgan Stanley Bank provided a loan amount of $29,500,000 for the refinancing deal. Seth Haberman, the landlord of 251 Central Park West, sought this refinance option. The transaction helps to secure the property's financial stability and ensures its continued operation in the Upper West Side market.
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
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93