$14 Million Refinance Secured By Israel Mermelstein For Bronx Multifamily Property At 3128 Bailey Avenue
FINANCED
$14,000,000
New York
See Similar DealsMultiFamily21,969 SF
Financed 11/18/2024
FINANCED
$14 Million Refinance Secured By Israel Mermelstein For Bronx Multifamily Property At 3128 Bailey Avenue
3128 Bailey Avenue
See Similar DealsMultiFamily21,969 SF
Financed 11/18/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$637
Total Square Footage:21,969 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,000,000.00
Monthly NOI$93,333.33
Monthly Debt Service$88,489.52
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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