Updated Aug 11, 2026
Hanover Capital NY Provides $13,320,000 Bridge Loan For Manhattan Multifamily At 316 East 3rd Street
316 East 3rd Street
$13,320,000
$484/SF
Building Size
27,496 SF
Asset Type
MultiFamily
Closing
Jul 30, 2026
About this deal
AI
The asset involved in this transaction is a multifamily property located at 316 East 3rd Street in Manhattan. It encompasses a total square footage of 27,496 and consists of 33 units.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $13,320,000
- Loan Type: Bridge
- Lender: Nir Mor, Isaac Abraham & Rami BenYehuda - Hanover CapitalNY
- Brokers: John Flynn & Clayton Ross - JLL
Key individuals involved in the deal include Nir Mor, Isaac Abraham, and Rami BenYehuda, representing Hanover CapitalNY as the lender, while John Flynn and Clayton Ross facilitated the transaction as brokers from JLL.
On the Map
$13,320,000
$484/SF
MultiFamily
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Players
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
1.19%
Cash-on-Cash
-0.34%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93