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3121 Villa Avenue, The Bron...

Atlantic Development Group Refinances Multifamily Property In Bedford Park With $11.8M Loan From JLL
FINANCEDMultiFamily

Atlantic Development Group Refinances Multifamily Property In Bedford Park With $11.8M Loan From JLL

3121 Villa Avenue, The Bronx, New York 10468, United States

$11,828,000

$111/SF

Building Size

106,586 SF

Asset Type

MultiFamily

Closing

Sep 14, 2022

AI

The multifamily property located at 3121 Villa Avenue in Bedford Park has been recently involved in a refinance loan transaction. This property comprises 111 units and spans approximately 106,586 square feet. The loan was arranged by JLL, with Alyssa D. Berquam representing the lender. The loan amount for this transaction was $11,828,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $11,828,000
  • Market: Bedford Park
  • Address: 3121 Villa Avenue
  • Asset Type: Multifamily
  • Square Footage: 106,586
  • Units: 111

Atlantic Development Group, led by Peter Fine, serves as the landlord for this property. They were involved in the refinance loan transaction alongside JLL. Peter Fine represents Atlantic Development Group in this deal.

Players

JLL
JLLLender

Peter Fine

Atlantic Development Group

Landlord

$477.2M

vol

20 deals

Landlord

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

1.34%

Cash-on-Cash

-0.38%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93