Delshah Capital Secures $130M First Mortgage Bridge Loan For Morningside Heights Multifamily
FINANCED
$130,000,000
New York
See Similar DealsMultiFamily260,000 SF
Financed 12/21/2017
FINANCED
Delshah Capital Secures $130M First Mortgage Bridge Loan For Morningside Heights Multifamily
30 Morningside Drive, Manhattan, NYC, NY, USA
See Similar DealsMultiFamily260,000 SF
Financed 12/21/2017
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$500
Total Square Footage:260,000 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$130,000,000.00
Monthly NOI$866,666.67
Monthly Debt Service$821,688.43
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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