Updated Mar 11, 2025
Meridian Capital Group Represents $385M Acquisition Loan For Multifamily Property At 356 West 58th Street, New York
356 West 58th Street, New York City, New York 10019, United States
$385,000,000
$1,061/SF
Building Size
362,800 SF
Asset Type
MultiFamily
Closing
May 3, 2022
About this deal
AI
A multifamily property located at 356 West 58th Street in New York has been involved in a recent transaction. The property spans approximately 362,800 square feet. The transaction took place on 05/04/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $385,000,000
- Address: 356 West 58th Street
- Market: New York
The loan for this transaction was provided by Paul Rahimian and Max Nipan from MSP Capital and Parkview respectively. The loan amount for the acquisition was $385,000,000.
The brokers involved in the deal were Morris Betesh and Alex Bailkin from the Meridian 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
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93