Updated Jul 29, 2026
Michael J. Gefter Secures $500,000 Loan For Multifamily Property At 290 Summit Ave In Mount Vernon
290 Summit Ave
$500,000
$95/SF
Building Size
5,227 SF
Asset Type
MultiFamily
Closing
Oct 29, 2024
About this deal
AI
The transaction involves a multifamily asset located at 290 Summit Ave in Mount Vernon. The loan amount secured for this property is $500,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $500,000.00
- Address: 290 Summit Ave
- Market: Mount Vernon
- Brokers: Michael J. Gefter
This transaction highlights the role of Michael J. Gefter as the broker representing the involved parties in the loan agreement. Specific details about the landlord associated with the property have not been disclosed.
The multifamily loan at 290 Summit Ave in Mount Vernon, New York financed for $500K in 2024. The building is 5,227 square feet, implying about 95 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 290 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 290 Summit Ave around 2024. Published consideration for 290 Summit Ave is $500K, dated 2024. Cite this Michael J. Gefter Secures $500,000 Loan For Multifamily Property At 290 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
31.73%
Cash-on-Cash
-9.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93