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276 Grand Concourse, The Br...

Updated Oct 29, 2024

JCS Realty Refinances Mott Haven Multifamily For $67.5M With Customers Bank And Bank Leumi
FINANCEDMultiFamily

JCS Realty Refinances Mott Haven Multifamily For $67.5M With Customers Bank And Bank Leumi

276 Grand Concourse, The Bronx, NY 10451, Estados Unidos

$60,000,000

$357/SF

Building Size

168,054 SF

Asset Type

MultiFamily

Closing

Nov 5, 2020

About this deal

AI

The property involved in this transaction is a multifamily asset located at 276 Grand Concourse Blvd in Mott Haven. It spans an impressive 200,000 square feet and comprises 215 units. The landlord of this property is JCS Realty, represented by Jacob Schwimmer.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $67,500,000
  • Address: 276 Grand Concourse Blvd
  • Market: Mott Haven
  • Square Footage: 200,000
  • Number of Units: 215

In terms of financing, the loan for this transaction was secured through a refinance. Customers Bank, represented by Leo DiLoreto, and Bank Leumi, represented by Jeff Puchin, provided the loan for this property. The brokers who facilitated this deal were Michael Wittow and Leah Paskus from Landstone Capital Group.

On the Map

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$60,000,000

$357/SF

MultiFamily

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Players

Isaac Filler

Filler Capital

Broker

$1.7B

vol

81 deals

Broker
S3 Capital
S3 CapitalLender

Jacob Schwimmer

Landlord

$787.9M

vol

14 deals

Landlord
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $357 per square foot on a published $60M for 168,054 square feet (2020).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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