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314 East 187th Street, The ...

Updated Feb 16, 2024

McLeod Capital Fund Provides $500K Refinance Loan For Bronx Multifamily Property
FINANCEDMultiFamily

McLeod Capital Fund Provides $500K Refinance Loan For Bronx Multifamily Property

314 East 187th Street, The Bronx, New York 10458, United States

$500,000

$286/SF

Building Size

1,748 SF

Asset Type

MultiFamily

Closing

Apr 4, 2022

About this deal

AI

A multifamily property located at 314 E. 187th St. in the Bronx has recently undergone a refinancing transaction. The property spans approximately 1,748 square feet and consists of two units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $500,000
  • Market: Bronx
  • Loan Type: Refinance
  • Loan Terms: DSCR 1.0 30 yr Fixed

The lender for this transaction was McLeod Capital Fund, while the landlords of the property are Beverly Fisher and Langdon Fisher.

The loan provided by McLeod Capital Fund amounted to $500,000 and offered a refinancing option with a DSCR of 1.0 and a 30-year fixed term. The borrower, who was house rich but lacked liquidity, was able to utilize the cash-out option provided by the lender. This allowed them to use the cash as reserves and pay off the mortgage on their primary home. McLeod Capital Fund, a private lender and nationwide mortgage broker, successfully facilitated the transaction.

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$500,000

$286/SF

MultiFamily

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Players

McLeod Capital Fund
McLeod Capital FundLender
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New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $286 per square foot on a published $500K for 1,748 square feet (2022).

Browse New York multifamily loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

31.73%

Cash-on-Cash

-9.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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