Updated Oct 28, 2024
Burke Builders Acquires Multifamily Properties In West Seneca & Hamburg For $27.5M Loan
299 Leydecker Road, West Seneca, New York 14224, United States
$27,515,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 27, 2022
About this deal
AI
The multifamily property located at 299 Leydecker Road in West Seneca and 3750 Heatherwood Drive in Hamburg has undergone a closed transaction. The deal was facilitated by John Sigeti from Berkadia, who represented the buyer, Burke Builders, led by Brady Burke. The property is situated in a prime market area, with easy access to amenities, transportation, and other conveniences.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,515,000
- Loan Terms: 10 years
- Market: West Seneca & Hamburg
The loan obtained for this transaction amounts to $27,515,000 and has a term of 10 years. The financing will support the continued operation and development of the multifamily property. The collaboration between John Sigeti from Berkadia and Brady Burke of Burke Builders played a crucial role in successfully closing the deal.
Players
Buffalo 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
0.58%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93