Updated Feb 16, 2024
Wells Fargo Provides $130M Loan For Multifamily Property At 3480 Seymour Ave. In Bronx
3480 Seymour Avenue, The Bronx, New York 10469, United States
$130,000,000
Units
1,416
Asset Type
MultiFamily
Closing
Oct 31, 2021
About this deal
AI
3480 Seymour Ave in Bronx is a multifamily property with 1,416 units spanning across 14.84 acres. The property, owned by Taconic Partners represented by David Milch and Clarion Partners represented by David Gilbert, recently secured a loan from Wells Fargo in the amount of $130,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $130,000,000
- Address: 3480 Seymour Ave
- Market: Bronx
- Units: 1,416
- Acres: 14.84
Taconic Partners, represented by David Milch, and Clarion Partners, represented by David Gilbert, were involved in securing the loan from Wells Fargo for the multifamily property located at 3480 Seymour Ave in Bronx.
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
0.12%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93