Updated Oct 28, 2024
Merchants Bank Of Indiana Provides $38.5M Construction Loan For Norwood Multifamily Property
3095 Webster Avenue, The Bronx, New York 10467, United States
$38,502,339
$9,923/SF
Building Size
3,880 SF
Asset Type
MultiFamily
Closing
Jun 30, 2022
About this deal
AI
The property involved in this closed transaction is a multifamily building located at 3095 Webster Avenue in Norwood. The property has a total square footage of 3,880 and consists of 116 units. The transaction took place on the date of July 1, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $38,502,339
- Address: 3095 Webster Avenue
- Market: Norwood
- Square Footage: 3,880
- Number of Units: 116
The loan for this transaction was provided by Merchants Bank of Indiana. The landlord associated with the property is Maria Matias, representing Geel Community Services. The loan amount for the transaction was $38,502,339 and it was classified as a construction loan.
On the Map
$38,502,339
$9,923/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93