Updated Oct 28, 2024
Joy Construction Maddd Equities & Drew Katz Refinances Multifamily Property In Hudson Yards With $97M Loan From Natixis CIB On 411 W. 35th St
411 West 35th Street
$97,000,000
$564/SF
Building Size
172,000 SF
Asset Type
MultiFamily
Closing
Jul 7, 2022
About this deal
AI
411 W. 35th St., located in the Hudson Yards market, was recently involved in a closed transaction for a multifamily property. The property spans approximately 172,000 square feet and consists of 186 units. The deal involved a refinance loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $97,000,000
- Loan Type: Refinance
- Loan Terms: 5-years
The lending institution responsible for providing the loan was natixis''>Natixis CIB. Joy Construction, Maddd Equities, and Drew Katz acted as the landlords in the transaction. Brad Domenico from Progress Capital served as the broker for the deal.
Players
Austin 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
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93