Updated Oct 28, 2024
Heritage Realty Acquires Multifamily Property In New York With NYCB Refinance Loan For $3.03M
283 West 115th Street, New York City, New York 10026, United States
$3,038,000
Building Size
—
Asset Type
MultiFamily
Closing
May 8, 2022
About this deal
AI
Located at 283 West 115th Street in New York, this multifamily property was recently involved in a loan transaction. The loan was facilitated by NYCB and it was a refinancing deal. The loan amount was $3,038,000 and the loan terms included a 3 + 5 option term with a 12-month interest-only rate of 3.05%. The prepayment terms were set as 3,1,1.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,038,000
- Market: New York
- Lender: NYCB
- Landlord: Heritage Realty - Josh Aryeh
- Broker: Judah Hammer - Meridian Capital Group
Josh Aryeh, representing Heritage Realty, and Judah Hammer from Meridian Capital Group played key roles in this loan transaction. They worked together to secure the refinancing deal for this multifamily property located in New York. The deal was successfully completed with the financial assistance provided by NYCB.
On the Map
$3,038,000
MultiFamily
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Players
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
5.22%
Cash-on-Cash
-1.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93