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Vaya Development Secures $483.3M Loan For Nine Multifamily Buildings In East Harlem
FINANCED
$483,300,000
New York
See Similar DealsMultiFamily3,451,557 SF
Financed 12/18/2025
FINANCED
Vaya Development Secures $483.3M Loan For Nine Multifamily Buildings In East Harlem
307 314 East 117th Street, 110 East 129th Street & 1980 Lexington Avenue New York
See Similar DealsMultiFamily3,451,557 SF
Financed 12/18/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$140
Total Square Footage:3,451,557 SF
Transaction Type:Loan
The transaction involves the acquisition of nine residential buildings located at 307 314 East 117th Street, 110 East 129th Street & 1980 Lexington Avenue in East Harlem, Manhattan. The properties total 1,150,519 square feet and comprise 1,058 units. A construction loan of $483,300,000 was secured for the comprehensive rehabilitation and acquisition of these multifamily assets.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $483,300,000
- Market: East Harlem, Manhattan
- Lender: Merchants Capital, New York City Housing Authority, and NYC Housing Development Corporation
- Landlord: Vaya Development
- Financing Entity: Harlem PACT Partners LLC
The deal is orchestrated by Vaya Development, which operates through Harlem PACT Partners LLC. The secured financing from multiple lenders underscores a collaborative effort to enhance the residential landscape in East Harlem through this substantial loan arrangement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$483,300,000.00
Monthly NOI$3,222,000.00
Monthly Debt Service$3,054,784.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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