Updated Oct 29, 2024
Delshah Capital Secures $130M First Mortgage Bridge Loan For Morningside Heights Multifamily
30 Morningside Drive, Manhattan, NYC, NY, USA
$130,000,000
$500/SF
Building Size
260,000 SF
Asset Type
MultiFamily
Closing
Dec 20, 2017
About this deal
AI
Delshah Capital, led by Michael Shah, refinanced their property at 30 Morningside Drive in Morningside Heights, NY. The asset, a multifamily property, was financed by Square Mile Capital through a first mortgage bridge loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Size: 205,000 rentable sf
- Address: 30 Morningside Drive, Morningside Heights, NY
The brokerage firm Eastern Consolidated, represented by Adam Hakim and James Murad, played a crucial role in facilitating the refinancing deal between Delshah Capital and Square Mile Capital.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93