The Cappelli Organization Refinances Multifamily Property In New Rochelle For $34.2M With Berkshire Bank
FINANCED
$34,200,000
New York
See Similar DealsMultiFamily87,000 SF
Financed 03/03/2022
FINANCED
The Cappelli Organization Refinances Multifamily Property In New Rochelle For $34.2M With Berkshire Bank
50 Le Count Place, New Rochelle, New York 10801, United States
See Similar DealsMultiFamily87,000 SF
Financed 03/03/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$393
Total Square Footage:87,000 SF
Transaction Type:Loan
The property involved in this closed transaction is a multifamily building located at 50 LeCount Place in New Rochelle. The property spans approximately 87,000 square feet and consists of 111 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $34,200,000
- Address: 50 LeCount Place, New Rochelle
- Market: New Rochelle
- Asset Type: Multifamily
- Square Footage: 87,000
- Units: 111
Berkshire Bank provided a refinancing loan in the amount of $34,200,000 for this transaction. The Cappelli Organization acted as the landlord. The deal was facilitated by Mark Niman from BayBridge Real Estate Capital.
Players
BROKERAGE
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$34,200,000.00
Monthly NOI$228,000.00
Monthly Debt Service$216,167.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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