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323 West 96th Street

Pinnacle Group Secures $65M Refinancing Deal For 172-Unit Residential Building In Upper West Side, Manhattan
FINANCEDMultiFamily

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

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.

Players

Starwood Capital Group
Starwood Capital GroupLender

Nina Vaca

Pinnacle Group

Landlord

$65M

vol

2 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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