Updated Jul 29, 2026
Michael J. Gefter Secures $463,125 Loan For MultiFamily Property At 282 Summit Ave In Mount Vernon
282 Summit Ave
$463,125
$159/SF
Building Size
2,900 SF
Asset Type
MultiFamily
Closing
Dec 13, 2024
About this deal
AI
The asset involved in the transaction is a multifamily property located at 282 Summit Ave in the Mount Vernon market. The loan amount secured for this asset is $463,125.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $463,125.00
- Address: 282 Summit Ave
- Market: Mount Vernon
- Brokers: Michael J. Gefter
The deal involved broker Michael J. Gefter, who represents the transaction in this multifamily property loan agreement.
The multifamily loan at 282 Summit Ave in Mount Vernon, New York financed for $463.1K in 2024. The building is 2,900 square feet, implying about 159 per square foot on the published price. Michael Gefter, Wolf Investment Partners appear on the loan alongside Wolf Investment Partners. This page is the Mount Vernon, New York file for the 282 Summit Ave multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Mount Vernon sit in the Market section below. Filter that Mount Vernon multifamily set by closing date to see what else financed near 282 Summit Ave around 2024. Published consideration for 282 Summit Ave is $463.1K, dated 2024. Cite this Michael J. Gefter Secures $463,125 Loan For MultiFamily Property At 282 Summit Ave In Mount Vernon loan when underwriting similar multifamily product around Mount Vernon, New York.
Players
Mount Vernon 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
34.25%
Cash-on-Cash
-9.79%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93