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Eagle Rock Properties Secures $11M Loan For West Village Multifamily
FINANCED
$11,000,000
New York
See Similar DealsMultiFamily
Financed 11/03/2023
FINANCED
Eagle Rock Properties Secures $11M Loan For West Village Multifamily
259 West 10th Street
See Similar DealsMultiFamily
Financed 11/03/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,000,000.00
Monthly NOI$73,333.33
Monthly Debt Service$69,527.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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