Updated Dec 4, 2024
Pinnacle Group Secures $65M Refinancing Deal For 172-Unit Residential Building In Upper West Side, Manhattan
323 West 96th Street
$65,000,000
$486/SF
Building Size
133,697 SF
Asset Type
MultiFamily
Closing
Nov 6, 2023
About this deal
AI
A $65 million refinancing deal has been secured by Joel Wiener's Pinnacle Group for a 172-unit residential elevator building located at 323 West 96th Street in the Upper West Side, Manhattan. The property is a multifamily asset with a total square footage of 133,697 and consists of 172 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Address: 323 West 96th Street
- Market: Upper West Side, Manhattan
The lender involved in this refinancing deal is Grace Chiang from Starwood Mortgage Capital. Nina Vaca, the landlord, is representing Pinnacle Group in this transaction.
Note: Joel Wiener's Pinnacle Group successfully secured a $65 million refinancing deal with lender Starwood Mortgage Capital for a 172-unit residential elevator building at 323 West 96th Street in the Upper West Side, Manhattan.
On the Map
$65,000,000
$486/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93