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260 West 54th Street

Joe Moinian's The Moinian Group Refinances Midtown Manhattan Multifamily Property For $135.6M With Freddie Mac Loan
FINANCEDMultiFamily

Joe Moinian's The Moinian Group Refinances Midtown Manhattan Multifamily Property For $135.6M With Freddie Mac Loan

260 West 54th Street

$135,604,000

Building Size

Asset Type

MultiFamily

Closing

Oct 4, 2023

AI

The multifamily property located at 260 West 54th Street in Midtown, Manhattan has recently undergone a refinancing transaction. The property consists of 395 units and is owned by Joe Moinian of The Moinian Group.

Summary of transaction details:

The financing was provided by Freddie Mac, a well-known lender in the real estate industry. The deal was facilitated by brokers Jordan Roeschlaub, Dustin Stolly, Daniel Fromm, and Peter Griesinger from Newmark. This transaction highlights the ongoing activity in the market, demonstrating the continued interest in multifamily properties in Midtown, Manhattan.

Players

Dustin Stolly

Walker & Dunlop

Broker

$49.4B

vol

267 deals

Broker
Freddie Mac
Freddie MacLender
Joe Moinian

Joe Moinian

The Moinian Group

Landlord

$1.1B

vol

14 deals

Landlord

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

0.12%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93