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254 East 68th Street, New Y...

State Farm Mutual Automobile Insurance Company Provides $30M Refinance Loan For Multifamily Property In Lenox Hill
FINANCEDMultiFamily

State Farm Mutual Automobile Insurance Company Provides $30M Refinance Loan For Multifamily Property In Lenox Hill

254 East 68th Street, New York City, New York 10065, United States

$30,000,000

$86/SF

Building Size

348,130 SF

Asset Type

MultiFamily

Closing

Aug 7, 2022

AI

The multifamily property located at 254 East 68th Street in Lenox Hill has recently undergone a loan refinance transaction. The property spans 348,130 square feet and consists of 172 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $30,000,000
  • Address: 254 East 68th Street
  • Market: Lenox Hill
  • Square Footage: 348,130
  • Number of Units: 172

The lender involved in the refinance is State Farm Mutual Automobile Insurance Company. The landlord of the property is Rudin Management. Eric Rudin is the image associated with the property transaction.

Players

Rudin Management Company
Rudin Management CompanyBrokerage
State Farm Life Insurance Company
State Farm Life Insurance CompanyLender
Rudin Management Company
Rudin Management CompanyLandlord

New York 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

0.53%

Cash-on-Cash

-0.15%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93