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Pinnacle Group Secures $65M Refinancing Deal For 172-Unit Residential Building In Upper West Side, Manhattan
FINANCED
$65,000,000
New York
See Similar DealsMultiFamily133,697 SF
Financed 11/06/2023
FINANCED
Pinnacle Group Secures $65M Refinancing Deal For 172-Unit Residential Building In Upper West Side, Manhattan
323 West 96th Street
See Similar DealsMultiFamily133,697 SF
Financed 11/06/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$486
Total Square Footage:133,697 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$65,000,000.00
Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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