Updated Nov 19, 2023
Michael Besen Refinances Nolita Multifamily Property With $14.9M Loan From Greystone & Co - N. Tyler Darby
49 Prince Street, New York City, New York 10012, United States
$14,930,000
Units
27
Asset Type
MultiFamily
Closing
Apr 17, 2023
About this deal
AI
A multifamily property located at 49 Prince Street in Nolita, Manhattan has been successfully refinanced. The property consists of 27 units and is owned by Michael Besen.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,930,000
- Loan Type: Refinance
- Lender: Greystone & Co - N. Tyler Darby
- Landlord: Michael Besen
- Date: 10/27/2022
- Market: Nolita, Manhattan
The refinancing was facilitated by Greystone & Co, with N. Tyler Darby as the representative. The loan amount obtained for this transaction was $14,930,000. This successful refinancing allows Michael Besen to optimize the financial aspects of his property investment.
On the Map
$14,930,000
MultiFamily
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New York MultiFamily Market Snapshot
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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