New York Community Bank Provides $47M Loan For Multifamily Property In Fordham Manor
FINANCED
$47,000,000
New York
See Similar DealsMultiFamily
Financed 05/24/2022
FINANCED
New York Community Bank Provides $47M Loan For Multifamily Property In Fordham Manor
2542 University Avenue, The Bronx, New York 10468, United States
See Similar DealsMultiFamily
Financed 05/24/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
A multifamily property located at 2542 University Avenue & 2532 University Avenue in Fordham Manor has recently undergone a refinancing transaction. The property, consisting of 389 units, was refinanced for a loan amount of $47,000,000.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: 2542 University Avenue & 2532 University Avenue
- Market: Fordham Manor
- Lender: New York Community Bank - Thomas R. Cangemi
- Landlord: Parkway Realty Associates - Eric Miller
- Units: 389
- Loan Type: Refinance
The loan for this multifamily property was provided by New York Community Bank, with Thomas R. Cangemi serving as the lender. Eric Miller, representing Parkway Realty Associates, is the landlord involved in the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$47,000,000.00
Monthly NOI$313,333.33
Monthly Debt Service$297,071.97
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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