Cheskel Schwimmer Secures $117 Million Refinance Loan For Multifamily Property In Manhattan
FINANCED
$117,000,000
New York
See Similar DealsMultiFamily200,364 SF
Financed 02/28/2025
FINANCED
Cheskel Schwimmer Secures $117 Million Refinance Loan For Multifamily Property In Manhattan
355 East 86th Street
See Similar DealsMultiFamily200,364 SF
Financed 02/28/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$583
Total Square Footage:200,364 SF
Transaction Type:Loan
The asset involved in the context is a multifamily property located at 355 East 86th Street in Manhattan. It encompasses a total area of 200,364 square feet and comprises 198 residential units. The transaction involves a refinance loan amounting to $117,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $117,000,000
- Address: 355 East 86th Street
- Market: Manhattan
- Square Footage: 200,364
- Units: 198
- Lender: Jeff Puchin - Valley National Bank; Ryan Park - Mizrahi; Shuki Zeitak - Leumi Partners
- Landlord: Cheskel Schwimmer
- Brokers: Pinchas Vogel & Leah Paskus - Landstone Capital Group
The key individuals and companies involved in this transaction include lender representatives Jeff Puchin, Ryan Park, and Shuki Zeitak. The brokers representing the Landlord, Cheskel Schwimmer, are Pinchas Vogel and Leah Paskus from Landstone Capital Group.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$117,000,000.00
Monthly NOI$780,000.00
Monthly Debt Service$739,519.59
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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