Updated Oct 29, 2024
Axos Bank Provides $13.5M Loan For Multifamily Property In West Village
The Victoria, 7 E 14th St, New York, NY 10003, USA
$20,000,000
$30/SF
Building Size
658,570 SF
Asset Type
MultiFamily
Closing
May 20, 2019
About this deal
AI
The multifamily property located at 30 East 14th Street in the West Village of New York City has undergone a loan transaction. The property, owned by Witnick Real Estate Partners, Namdar Realty Group, and Gorjian Real Estate Group, secured a loan amount of $13,500,000 from Axos Bank. The property consists of 20 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,500,000
- Address: 30 East 14th Street, West Village
- Market: West Village
- Lender: Axos Bank
- Landlord: Witnick Real Estate Partners, Namdar Realty Group & Gorjian Real Estate Group
- Units: 20
The loan transaction was facilitated by Axos Bank, providing financial support to the property's owners, Witnick Real Estate Partners, Namdar Realty Group, and Gorjian Real Estate Group. This funding will contribute to the continued operation and development of the multifamily property located at 30 East 14th Street in the West Village.
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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93