Sterling National Bank Provides $13.6M Loan For Multifamily Property In Manhattan Valley
FINANCED
$13,600,000
New York
See Similar DealsMultiFamily
Financed 05/27/2020
FINANCED
Sterling National Bank Provides $13.6M Loan For Multifamily Property In Manhattan Valley
300 Manhattan Ave, New York, NY, USA
See Similar DealsMultiFamily
Financed 05/27/2020
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this closed transaction is a multifamily asset located at 300 Manhattan Ave. & 315 West 113th Street in Manhattan Valley. The loan for this property was provided by Sterling National Bank, with a total amount of $13,600,000. The term of the loan is 2.75%, with a 1-year interest-only period for 7 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $13,600,000
- Address: 300 Manhattan Ave. & 315 West 113th Street
- Market: Manhattan Valley
The landlord of the property is Bluestar Properties, represented by Jeff Pikus. The brokers involved in this deal are Shamir Seidman and Daniel Neiss from Meridian Capital Group.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,600,000.00
Monthly NOI$90,666.67
Monthly Debt Service$85,961.25
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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