Updated Oct 27, 2026
Lightstone Secures Loan From MF1 For 174-unit Multifamily At 323 West 96th Street
323 West 96th Street
$84,500,000
$618/SF
Building Size
136,651 SF
Asset Type
MultiFamily
Closing
Sep 28, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 323 West 96th Street in the Upper West Side. The asset spans 136,651 square feet and comprises a total of 174 units.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: Not specified
- Address: 323 West 96th Street
- Market: Upper West Side
- Square Footage: 136,651
- Units: 174
- Lender: MF1 - Michael Squires
- Borrower: Lightstone - David Lichtenstein
- Brokers: Peter Rotchford & Michael Shmuely - JLL
- Loan Type: Acquisition
Key individuals involved in the deal include Michael Squires representing MF1 as the lender, with David Lichtenstein representing Lightstone as the borrower. The brokerage services for this transaction were provided by Peter Rotchford and Michael Shmuely from JLL.
On the Map
$84,500,000
$618/SF
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93