Cheskel Schwimmer Secures $117 Million Refinance Loan For Multifamily Property In Manhattan
355 East 86th Street
$117,000,000
$583/SF
Building Size
200,364 SF
Asset Type
MultiFamily
Closing
Feb 28, 2025
AI
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.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93