Updated Oct 28, 2024
L&M Development Partners Secures $27.7M Refinance Loan For Multifamily Property On East 8th Street, Alphabet City
342 East 8th Street, New York City, New York 10009, United States
$27,738,000
$421/SF
Building Size
65,832 SF
Asset Type
MultiFamily
Closing
Sep 28, 2022
About this deal
AI
An multifamily property located at 342 East 8th Street in Alphabet City, Manhattan has recently undergone a refinance loan transaction. The property spans over an area of 65,832 square feet and consists of 70 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $27,738,000
- Address: 342 East 8th Street, Alphabet City, Manhattan
- Market: Alphabet City, Manhattan
- Loan Type: Refinance
The lender for this transaction was greystone''>Greystone & Co., represented by Kristie Reinhardt. The landlord, L+M Development Partners, was represented by Adam Hellegers.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Greystone to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93