JCS Realty Refinances Mott Haven Multifamily For $67.5M With Customers Bank And Bank Leumi
FINANCED
$60,000,000
New York
See Similar DealsMultiFamily168,054 SF
Financed 11/06/2020
FINANCED
JCS Realty Refinances Mott Haven Multifamily For $67.5M With Customers Bank And Bank Leumi
276 Grand Concourse, The Bronx, NY 10451, Estados Unidos
See Similar DealsMultiFamily168,054 SF
Financed 11/06/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$357
Total Square Footage:168,054 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$60,000,000.00
Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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