Updated Apr 3, 2025
State Farm Realty Mortgage Provides $15M Loan For BLDG Management's Multifamily Property In Sutton Place
412 East 55th Street, New York City, New York 10022, United States
$15,000,000
$167/SF
Building Size
89,400 SF
Asset Type
MultiFamily
Closing
May 30, 2022
About this deal
AI
A multifamily property located at 412 East 55th Street in Sutton Place has been involved in a recent transaction. The property spans approximately 89,400 square feet and consists of 86 units. The deal was closed on 05/31/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,000,000
- Address: 412 East 55th Street
- Market: Sutton Place
- Loan Lender: State Farm Realty Mortgage
- Landlord: BLDG Management
- Image: Lloyd Goldman
The State Farm Realty Mortgage served as the lender for this transaction, providing a loan amount of $15,000,000. The landlord involved in the deal is BLDG Management.
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
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93