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355 East 86th Street

Cheskel Schwimmer Secures $117 Million Refinance Loan For Multifamily Property In Manhattan
FINANCEDMultiFamily

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:

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

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
Valley National Bank
Valley National BankLender

Cheskel Schwimmer

Landlord

$605.9M

vol

9 deals

Landlord

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