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John Mavroudis Of Alma Realty Refinances Washington Heights Multifamily For $9.8 Million

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FINANCED
$9,800,000

New York

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MultiFamily
Financed 09/09/2024
the dealdetailscomps
Property Image
FINANCED

John Mavroudis Of Alma Realty Refinances Washington Heights Multifamily For $9.8 Million

4441 Broadway & 5008 Broadway

See Similar Deals
MultiFamily
Financed 09/09/2024
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

Alma Realty refinanced two residential elevator buildings in Manhattan, located at 5008 and 4441 Broadway, which total 75 units. The properties cover a combined area of 69,564 square feet and have a loan amount of $9.8 million, provided by Customers Bank. Previously, these properties had $5.5 million in debt from Ellis Equities.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $9,800,000
  • Lender: Gregory Fantauzzi - Customers Bank
  • Landlord: John Mavroudis - Alma Realty
  • Previous Debt: $5,500,000 from Ellis Equities

The transaction involved key participants in the deal, with John Mavroudis representing Alma Realty and Gregory Fantauzzi representing Customers Bank, facilitating the refinance of the properties situated in the Washington Heights & Inwood market.

Details

FINANCED
IMAGE: John Mavroudis & Gregory Fantauzzi DATE: 09/09/2024 ADDRESS: 4441 Broadway & 5008 Broadway MARKET: Washington Heights & Inwood ASSET TYPE: Multifamily LENDER: Gregory Fantauzzi - Customers Bank (@CustomersBank) LANDLORD: John Mavroudis - Alma Realty LOAN AMOUNT: $9,800,000 LOAN TYPE: Refinance NOTE: Alma Realty refinanced two residential elevator buildings in Manhattan, totaling 75 units, with a $9.8 million loan from Customers Bank. The 69,564-square-foot properties at 5008 and 4441 Broadway previously had $5.5 million in debt from Ellis Equities.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$9,800,000.00

Monthly NOI$65,333.33
Monthly Debt Service$61,942.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00