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Namdar Realty Group Secures $147.1M Refinance Loan With Reznik Paz Nevo Trusts
FINANCED
$147,100,000
New York
See Similar DealsMultiFamily
Financed 05/24/2024
FINANCED
Namdar Realty Group Secures $147.1M Refinance Loan With Reznik Paz Nevo Trusts
312 Manhattan Avenue, 548 East 183rd Street & 2505 Hoffman Street
See Similar DealsMultiFamily
Financed 05/24/2024
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$147,100,000.00
Monthly NOI$980,666.67
Monthly Debt Service$929,772.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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