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SMA Equities Secures $17.4M Refinance Loan For Lower East Side Multifamily
FINANCED
$17,400,000
New York
See Similar DealsMultiFamily
Financed 11/03/2023
FINANCED
SMA Equities Secures $17.4M Refinance Loan For Lower East Side Multifamily
305 Broome Street & 131 Orchard Street
See Similar DealsMultiFamily
Financed 11/03/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
SMA Equities, led by Sassan Mahfar, secured two refinance loans totaling $17.4 million from Societe Generale for residential walkup buildings located at 305 Broome Street and 131 Orchard Street in Manhattan's Lower East Side. The properties are part of the multifamily asset type.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,400,000
- Address: 305 Broome Street & 131 Orchard Street
- Market: Lower East Side, Manhattan
Kevin Kelley of Societe Generale served as the lender for the refinance loans obtained by SMA Equities. As the landlord of the properties, Sassan Mahfar represented SMA Equities throughout the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,400,000.00
Monthly NOI$116,000.00
Monthly Debt Service$109,979.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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