New York Community Bank Provides $17.9M Refinance Loan For Multifamily Properties In SoHo & LES
FINANCED
$17,900,000
New York
See Similar DealsMultiFamily26,769 SF
Financed 09/10/2021
FINANCED
New York Community Bank Provides $17.9M Refinance Loan For Multifamily Properties In SoHo & LES
38 Grand Street, Manhattan, New York, NY, USA
See Similar DealsMultiFamily26,769 SF
Financed 09/10/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$668
Total Square Footage:26,769 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,900,000.00
Monthly NOI$119,333.33
Monthly Debt Service$113,140.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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