Updated May 12, 2025
LendVent Realty Capital Provides $2.7M Bridge Loan For 4-Unit Multifamily Property In New York City
359 Greene Avenue
$2,749,800
$763/SF
Building Size
3,600 SF
Asset Type
MultiFamily
Closing
Apr 20, 2023
About this deal
AI
The property asset involved in this transaction is a multifamily unit located at 359 Greene Avenue in New York City. The asset spans 3,600 square feet and consists of 4 units, indicating its diverse residential offering.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,749,800
- Asset Address: 359 Greene Avenue
- Market: New York City
- Lender: LendVent Realty Capital
- Landlord: Telha Khatak
- Broker: John Femenia - Source Realty Capital
- Loan Type: Bridge
- Loan Terms: Fix and Flip bridge loan. $1,153,800 Construction Holdback. 85% LTC
Key individuals involved in the transaction include the lender LendVent Realty Capital and the landlord Telha Khatak. John Femenia from Source Realty Capital represents the broker in this deal, facilitating the transaction process for all parties involved.
On the Map
$2,749,800
$763/SF
MultiFamily
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Players
Market 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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93