Wells Fargo Provides $59M Loan For MultiFamily Property In New York
400 W 55th St, New York, NY, 10019
$59,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 20, 2019
AI
The property at 400 W 55th St, New York, NY, 10019, is a MultiFamily asset that was involved in a recent loan transaction. The loan amount for this property was $59,000,000.00 in a deal that took place on 02/20/2019 in the New York market.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $59,000,000.00
- Borrower's Reps: Matthew "Matt" Klauer, Steven Deck
- Lender: Wells Fargo
The transaction involved two borrower's representatives, namely Matthew "Matt" Klauer and Steven Deck, as well as the lending institution, Wells Fargo. These key individuals and companies played crucial roles in facilitating the loan for the MultiFamily property in New York.
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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93