Updated Oct 29, 2024
Urban Standard Capital Provides $1.6M Loan For Multifamily Property In Harlem
5 East 124th Street, New York, NY 10035, USA
$1,600,000
$410/SF
Building Size
3,900 SF
Asset Type
MultiFamily
Closing
Apr 8, 2019
About this deal
AI
A multifamily property located at 5 E 124th St in Harlem has been involved in a recent transaction. The property spans 3,900 square feet and is owned by Stockbridge Equities, represented by Selwyn Roberts. The transaction involved a loan provided by Urban Standard Capital in the amount of $1,600,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 5 E 124th St
- Market: Harlem
- Landlord: Stockbridge Equities - Selwyn Roberts
Seth Weissman and Blake Orman were the brokers involved in the deal. Blake Orman represented the lender, Urban Standard Capital.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93