Updated Dec 4, 2024
Equity Residential Secures $48.5M Refinancing Loan For Yorkville Multifamily Building
$48,500,000
$180/SF
Building Size
268,750 SF
Asset Type
MultiFamily
Closing
Aug 29, 2023
About this deal
AI
The 261-unit residential elevator building located at 303 East 83rd Street in Yorkville, Manhattan has secured a $48.5 million refinancing loan from PNC Bank. The loan was obtained by Equity Residential, operating through Archstone Camargue LLC, and will be used to refinance the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $48,500,000
- Size: 268,750 square feet
- Units: 261
- Lender: Tara Suaya - PNC Bank
- Landlord: Claudio Moreno - Equity Residential
Tara Suaya from PNC Bank served as the lender for this refinancing transaction. Claudio Moreno, representing Equity Residential, acted as the landlord in the deal.
Players
Market 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
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93