Updated Dec 4, 2024
Namdar Realty Group Secures $147.1M Refinance Loan With Reznik Paz Nevo Trusts
312 Manhattan Avenue, 548 East 183rd Street & 2505 Hoffman Street
$147,100,000
Units
267
Asset Type
MultiFamily
Closing
May 24, 2024
About this deal
AI
The transaction involved 20 properties, totaling 267 residential units across Harlem and Belmont/Little Italy, Bronx. The loan amount for this refinance was $147,100,000 with Israel-based Reznik Paz Nevo Trusts providing the financing.
Summary of transaction details:
- Property Type: Multifamily & Hotel
- Transaction Amount: $147,100,000
- Address: 312 Manhattan Avenue, 548 East 183rd Street & 2505 Hoffman Street
- Market: Belmont/Little Italy, Bronx
- Lender: Reznik Paz Nevo Trusts - Hillel Lazarus
- Landlord: Igal Namdar - Namdar Realty Group, Klosed Properties & Ramin Abdolazadeh, Aaron Etessami & Troy Kordvani
Namdar Realty Group, Klosed Properties, alongside partners Ramin Abdolazadeh, Aaron Etessami, and Troy Kordvani, successfully secured the $147.1 million refinance loan with Reznik Paz Nevo Trusts. Hillel Lazarus represented the lender in this lucrative transaction.
On the Map
$147,100,000
MultiFamily
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Players
New York 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
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93