FINANCEDMultiFamily
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
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.
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