Updated Oct 29, 2024
Sherwood Equities Secures $92M Loan From Wells Fargo On 318 E 15th St Multifamily
318 E 15th St, New York, NY, 10003
$92,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 13, 2017
About this deal
AI
The property located at 318 E 15th St, New York, NY, 10003, is a MultiFamily asset that was involved in a loan transaction on 10/13/2017. The loan amount for this property was $92,000,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $92,000,000.00
- Market: New York
- Borrower: Sherwood Equities
- Borrower's Representative: Richard Horowitz (Cooper Horowitz)
- Lender: Wells Fargo
Richard Horowitz from Cooper Horowitz represented the borrower, Sherwood Equities, in the loan transaction with Wells Fargo. The deal further solidified the financial arrangement for the MultiFamily property and showcased the collaborative effort between the borrower and lender in New York.
On the Map
$92,000,000
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93