Updated Feb 16, 2024
Customers Bank Provides $39M Refinance Loan For Multifamily Buildings In Sunset Park
4710 7th Avenue, New York City, New York 10001, United States
$39,000,000
$235/SF
Building Size
165,497 SF
Asset Type
MultiFamily
Closing
Aug 9, 2022
About this deal
AI
The multifamily property located at 4710 7th Avenue, 4714 7th Avenue, and 874 43rd Street in Sunset Park has undergone a loan refinancing transaction. The property spans a total square footage of 165,497, making it a significant asset in the market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Loan Type: Refinance
- Lender: Customers Bank
- Landlord: Jack Geula
- Date: 08/10/2022
The loan refinancing for this multifamily property was facilitated by Customers Bank. Representing the landlord, Jack Geula played a vital role in the transaction. The refinancing loan amount was $39,000,000, further bolstering the financial stability of the property.
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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93