Updated Nov 4, 2023
Ching Lau & Ying Liu Secure $11M Loan From Bank Of America For Greenwich Village Walkup Building
34 W 9th St New York, NY 10011, USA
$11,000,000
$2,150/SF
Building Size
5,116 SF
Asset Type
MultiFamily
Closing
Aug 10, 2023
About this deal
AI
Ching Lau and Ying Liu, operating as 34w9 LLC, have secured an initial loan of $11 million from Bank of America for the five-unit residential walkup building at 34 West 9th Street in Greenwich Village, Manhattan. The property is a multifamily building with a total building square footage of 5,116 square feet. It consists of 5 units and has a buildable square footage (BSF) of 5,710. The building is located in the vibrant market of Greenwich Village, Manhattan.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $11,000,000
- Address: 34 West 9th Street
- Market: Greenwich Village, Manhattan
- Total Building Square Footage: 5,116 SF
- Buildable Square Footage (BSF): 5,710
- Number of Units: 5
The loan was provided by Bank of America, acting as the lender in this transaction. Ching Lau and Ying Liu, the landlords, represented by 34w9 LLC, secured the loan to support their real estate investment in the multifamily property.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93