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Sherwood Equities Secures $92M Loan From Wells Fargo On 318 E 15th St Multifamily

Property Image
FINANCED
$92,000,000

New York

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MultiFamily
Financed 10/13/2017
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Property Image
FINANCED

Sherwood Equities Secures $92M Loan From Wells Fargo On 318 E 15th St Multifamily

318 E 15th St, New York, NY, 10003

See Similar Deals
MultiFamily
Financed 10/13/2017
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

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:

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.

Players

Richard Horowitz
Cooper Horowitz
Richard Horowitz
40 deals$2.7B volume
BROKER
Wells Fargo
Wells Fargo
LENDER
BD
Bhatia Development
LANDLORD

Details

FINANCED
IMAGE: 10/13/2017 ADDRESS: 318 E 15th St, New York, NY, 10003 MARKET: New York ASSET TYPE: MultiFamily BORROWER'S REP: Richard Horowitz(Cooper Horowitz) BORROWER: Sherwood Equities LENDER: Wells Fargo LOAN AMOUNT: $92,000,000.00

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$92,000,000.00

Monthly NOI$613,333.33
Monthly Debt Service$581,502.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00