Updated May 12, 2025
Steve Croman's West Village And Midtown East Multifamily Portfolio Secures $24M Loan From New York Community Bank
941 2nd Ave, New York, NY 10022, USA
$24,005,000
$57/SF
Building Size
416,360 SF
Asset Type
MultiFamily
Closing
May 13, 2020
About this deal
AI
The transaction involved multiple multifamily properties located at 290 West 12th Street, 941 2nd Avenue, 939 2nd Avenue, and 250 East 50th Street within the West Village and Midtown East markets. The total loan amount for these assets is $24,005,000, comprising 62 units and covering a total area of 41,636 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,005,000
- Units: 62
- Square Footage: 41,636
- Lender: New York Community Bank
- Landlord: Steve Croman @9300Realty
Key individuals involved in this transaction include Steve Croman, representing the landlord. The lender for the properties is New York Community Bank, which facilitated the financing for the loan amount specified.
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
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93