Updated Oct 28, 2024
New York Community Bank Provides $17.9M Refinance Loan For Multifamily Properties In SoHo & LES
38 Grand Street, Manhattan, New York, NY, USA
$17,900,000
$668/SF
Building Size
26,769 SF
Asset Type
MultiFamily
Closing
Sep 10, 2021
About this deal
AI
The multifamily property located at 38 & 46 Grand Street, 322-324 & 330 Spring Street in SoHo & LES was involved in a recent transaction. The property spans approximately 26,769 square feet and consists of 36 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,900,000
- Loan Type: Refinance
The lender for this transaction was New York Community Bank. The landlord of the property is the Vendome Group. The deal was facilitated by brokers Richard Horowitz, Justin Horowitz, and Jeff Horowitz of CooperHorowitz LLC.
On the Map
$17,900,000
$668/SF
MultiFamily
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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
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93