FINANCEDMultiFamily
$14 Million Refinance Secured By Israel Mermelstein For Bronx Multifamily Property At 3128 Bailey Avenue
3128 Bailey Avenue
$14,000,000
$637/SF
Building Size
21,969 SF
Asset Type
MultiFamily
Closing
Nov 18, 2024
AI
The property located at 3128 Bailey Avenue in the Bronx is a multifamily asset featuring 21,969 square feet and consisting of 40 units. The transaction involved a refinance loan amounting to $14,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 3128 Bailey Avenue
- Market: Bronx
- Loan Type: Refinance
- Total Square Footage: 21,969
- Total Units: 40
- Broker: Israel Mermelstein
- Broker Agency: Meridian Capital Group
The property is fully leased to Augmented CityFHEPS tenants. Israel Mermelstein represents the lender in this refinance transaction.
Bronx 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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93