Updated Oct 28, 2024
New York Community Bank Provides $47M Loan For Multifamily Property In Fordham Manor
2542 University Avenue, The Bronx, New York 10468, United States
$47,000,000
Units
389
Asset Type
MultiFamily
Closing
May 23, 2022
About this deal
AI
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.
On the Map
$47,000,000
MultiFamily
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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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93