Heritage Affordable Communities Acquires Multifamily Properties In Yonkers & Bronx For $17.6M
FINANCED
$17,573,000
New York
See Similar DealsMultiFamily
Financed 10/01/2021
FINANCED
Heritage Affordable Communities Acquires Multifamily Properties In Yonkers & Bronx For $17.6M
34 Highland Avenue, Yonkers, NY, USA
See Similar DealsMultiFamily
Financed 10/01/2021
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
Heritage Affordable Communities has acquired a multifamily property located at 34 Highland Avenue in Yonkers and 2120 Hughes Avenue in Bronx. The property consists of 88 units and was sold for an undisclosed amount.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: Undisclosed
- Address: 34 Highland Avenue & 2120 Hughes Avenue
- Market: Yonkers & Bronx
- Units: 88
Heritage Affordable Communities, represented by Alex Hajibay, acted as the buyer in this acquisition. The financing for the deal was provided by greystone''>Greystone, with Dan Sacks and Ilan Bassali representing the lender. The loan amount was $17,573,000 and it was a 12-year term acquisition loan provided by Fannie Mae.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,573,000.00
Monthly NOI$117,153.33
Monthly Debt Service$111,073.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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