Updated Sep 9, 2024
Joe Ienco Acquires West Village Multifamily With $11.8M Loan From Morgan Stanley
10 Charles St, New York, NY 10014, USA
$11,800,000
$18,153/SF
Building Size
650 SF
Asset Type
MultiFamily
Closing
Nov 2, 2020
About this deal
AI
An $11,800,000 loan was secured for a multifamily property located at 10 Charles Street and 35 Perry Street in the West Village. The loan term is set for 10 years, with the full term being interest only. The lender for this transaction is Morgan Stanley, while the landlord of the property is Joe Ienco. The broker representing the deal is Matthew Shatz of B6 Real Estate Advisors.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $11,800,000
- Loan Terms: 10 Years - Full Term Interest Only
- Lender: Morgan Stanley
- Landlord: Joe Ienco
- Broker: Matthew Shatz - B6 Real Estate Advisors
Matthew Shatz, a Director of Capital Advisory at B6 Real Estate Advisors, played a crucial role in securing the loan for this West Village multifamily property transaction.
On the Map
$11,800,000
$18,153/SF
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.34%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93