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Joel J. Gorjian Secures $14.7 Million Refinance Loan From J.P. Morgan Chase For Multifamily Asset
FINANCED
$14,700,000
New York
See Similar DealsMultiFamily39,210 SF
Financed 06/05/2026
FINANCED
Joel J. Gorjian Secures $14.7 Million Refinance Loan From J.P. Morgan Chase For Multifamily Asset
425 West 57th Street
See Similar DealsMultiFamily39,210 SF
Financed 06/05/2026
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$374
Total Square Footage:39,210 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily building located at 425 West 57th Street in Hell’s Kitchen, Manhattan. It encompasses a total square footage of 39,210 and consists of 50 residential units. The refinancing transaction amounts to $14,700,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,700,000
- Address: 425 West 57th Street
- Market: Hell’s Kitchen, Manhattan
- Lender: J.P. Morgan Chase
- Landlord: Joel J. Gorjian - Gorjian Real Estate Group
- Loan Type: Refinance
- Units: 50
- Square Footage: 39,210
The refinancing was facilitated by Joel J. Gorjian, representing Gorjian Real Estate Group through GG West 57 Owner LLC. The deal was closed on June 5, 2026, and recorded on June 12, 2026.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,700,000.00
Monthly NOI$98,000.00
Monthly Debt Service$92,914.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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