Slate Property Group Secures $61.2M Acquisition Loan In Chelsea Multifamily Deal
FINANCED
$61,250,000
+ 2
New York
See Similar DealsMultiFamily72,338 SF
Financed 07/11/2022
FINANCED
Slate Property Group Secures $61.2M Acquisition Loan In Chelsea Multifamily Deal
301 West 22nd Street, New York City, New York 10011, United States
See Similar DealsMultiFamily72,338 SF
Financed 07/11/2022
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$846
Total Square Footage:72,338 SF
Transaction Type:Loan
The multifamily property located at 301 West 22nd St., 300 West 21 St., and 229 West 20th St. in Chelsea has undergone a loan transaction. The property spans approximately 73,000 square feet and comprises 94 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $61,250,000
- Address: 301 West 22nd St., 300 West 21 St., and 229 West 20th St.
- Market: Chelsea
Slate Asset Management, represented by Anthony Candela, served as the lender for this acquisition loan. The landlord, Slate Property Group, represented by Martin Nussbaum, facilitated the transaction. The deal was negotiated by Dustin Stolly, Jordan Roeschlaub, and Daniel Fromm of Newmark.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$61,250,000.00
Monthly NOI$408,333.33
Monthly Debt Service$387,141.66
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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