Philip Harper Secures $3.2 Million Refinance Loan For 10-Unit Multifamily Building In Upper West Side

The multifamily asset located at 3 West 75th Street in the Upper West Side comprises 6,914 square feet and consists of 10 units. The refinancing involved a loan amount of $3,200,000, with a loan type designated as refinance. The loan terms include a duration of 30 months, accompanied by a rate of 6.5%, structured as a 3+3/30 year agreement.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,200,000
• Address: 3 West 75th Street
• Market: Upper West Side
• Asset Size: 6,914 SF
• Units: 10
• Lender: Axos Bank
• Borrower: Philip Harper
• Broker: John Lagoudis - Aegean Commercial Capital
• Loan Type: Refinance
• Loan Terms: 30 months
• Rate: 6.5%

John Lagoudis of Aegean Commercial Capital represented the borrower, Philip Harper, in securing the cash-out refinancing for the 10-family building, which includes a mix of FM and RS units.