Eugene Asset Management, Meritz Securities Co. & The Related Companies Secure $172.9M Loan For Upper West Side Multifamily Acquisition
FINANCED
$172,900,000
+ 2
New York
See Similar DealsMultiFamily284,000 SF
Financed 04/20/2022
FINANCED
Eugene Asset Management, Meritz Securities Co. & The Related Companies Secure $172.9M Loan For Upper West Side Multifamily Acquisition
255 West 94th Street, New York City, New York 10025, United States
See Similar DealsMultiFamily284,000 SF
Financed 04/20/2022
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$608
Total Square Footage:284,000 SF
Transaction Type:Loan
A multifamily property located at 255 W. 94th St. in the Upper West Side has been acquired through a loan transaction. The property, spanning approximately 284,000 square feet, comprises 285 units and is situated in a desirable neighborhood.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $172,900,000
- Address: 255 W. 94th St.
- Market: Upper West Side
- Size: 284,000 square feet
- Units: 285
The loan for the acquisition was provided by Wells Fargo and Fannie Mae. Represented by Cushman & Wakefield, the landlord of the property is Eugene Asset Management, along with Meritz Securities Co. and The Related Companies. The deal was facilitated by brokers Gideon Gil, Lauren Kaufman, Adam Spies, Doug Harmon, and Marcella Fasulo from Cushman & Wakefield.
Players
LENDER
LANDLORD
LANDLORD
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$172,900,000.00
Monthly NOI$1,152,666.67
Monthly Debt Service$1,092,845.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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