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400 W 55th St, New York, NY...

Updated Oct 29, 2024

Wells Fargo Provides $59M Loan For MultiFamily Property In New York
FINANCEDMultiFamily

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

About this deal

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.

On the Map

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$59,000,000

MultiFamily

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Players

Matthew Klauer

Broker

$832.3M

vol

8 deals

Broker
Wells Fargo
Wells FargoLender
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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

0.27%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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