Updated Aug 31, 2026
PH Realty Borrower Secures $9.5M Acquisition Loan For Multifamily Property In Elmira
346 Woodlawn Avenue
$9,500,000
Units
274
Asset Type
MultiFamily
Closing
Aug 21, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily property located at 346 Woodlawn Avenue in Elmira, NY, comprising a total of 274 units. The loan amount secured for this acquisition is $9,500,000.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $9,500,000
- Lender: Max Gejerman & Nisson Hyman - Module Five Capital
- Borrower: PH Realty - Peter Hungerford
- Brokers: Brian Flax & Jason Bogopulsky - Meridian Capital Group
- Loan Type: Acquisition
This transaction required effective collaboration among the deal team, highlighting the integral role of Meridian Capital Group in arranging the financing. The lender, Module Five Capital, actively engaged in navigating the complexities of the transaction to ensure a smooth execution for the borrower.
Players
Elmira 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
1.67%
Cash-on-Cash
-0.48%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93