Updated Dec 4, 2024
Eagle Rock Properties Secures $11M Loan For West Village Multifamily
259 West 10th Street
$11,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 3, 2023
About this deal
AI
Eagle Rock Properties has secured $11 million in gap financing from Citibank for their multifamily apartment complex located at 259 W. 10th St. in Manhattan's West Village.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $11,000,000
- Lender: Citibank
- Landlord: Mark Seelig - Eagle Rock Properties
- Date: 11/03/2023
- Market: West Village, Manhattan
The loan provided by Citibank enables Eagle Rock Properties to continue their investment in the multifamily apartment complex, located in the vibrant West Village neighborhood of Manhattan.
The multifamily loan at 259 West 10th Street in New York, New York financed for $11M in 2023. 259 West 10th Street is classified as Multifamily on Traded. Named participants on the 259 West 10th Street loan are Mark Seelig. This page is the New York, New York file for the 259 West 10th Street multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 259 West 10th Street around 2023. Published consideration for 259 West 10th Street is $11M, dated 2023. Cite this Eagle Rock Properties Secures $11M Loan For West Village Multifamily loan when underwriting similar multifamily product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93