Steve Croman's West Village And Midtown East Multifamily Portfolio Secures $24M Loan From New York Community Bank
FINANCED
$24,005,000
New York
See Similar DealsMultiFamily416,360 SF
Financed 05/14/2020
FINANCED
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
See Similar DealsMultiFamily416,360 SF
Financed 05/14/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$57
Total Square Footage:416,360 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,005,000.00
Monthly NOI$160,033.33
Monthly Debt Service$151,727.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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