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Matthew Lembo Of Stellar Management Refinances Multifamily Property With $80.5M Loan

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FINANCED
$80,500,000

New York

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MultiFamily
Financed 04/16/2024
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Property Image
FINANCED

Matthew Lembo Of Stellar Management Refinances Multifamily Property With $80.5M Loan

50 West 93rd Street & 70 West 93rd Street

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MultiFamily
Financed 04/16/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 50-70 West 93rd Street in the Upper West Side features 322 units. The property was refinanced for a loan amount of $80,500,000 by Jason Deck from Helaba, with Matthew Lembo from Stellar Management as the landlord.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $80,500,000
  • Address: 50-70 West 93rd Street
  • Market: Upper West Side
  • Units: 322
  • Lender: Jason Deck - Helaba
  • Landlord: Matthew Lembo - Stellar Management

The key individuals involved in this transaction are Matthew Lembo representing Stellar Management as the landlord and Jason Deck as the lender from Helaba.

Players

LENDER

Details

FINANCED
IMAGE: Matthew Lembo & Jason Deck DATE: 04/16/2024 ADDRESS: 50-70 West 93rd Street MARKET: Upper West Side ASSET TYPE: Multifamily ~ UNITS: 322 LANDLORD: Matthew Lembo - Stellar Management (@StellarManagement) LENDER: Jason Deck - Helaba LOAN AMOUNT: $80,500,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$80,500,000.00

Monthly NOI$536,666.67
Monthly Debt Service$508,814.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00