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50 River Street

Updated May 12, 2025

Peter Chavkin Of Biddle Real Estate Ventures And Keith Kobyra Of King Street Capital Secure $237.5M Bridge Loan For Multifamily Asset In Sleepy Hollow
FINANCEDMultiFamily

Peter Chavkin Of Biddle Real Estate Ventures And Keith Kobyra Of King Street Capital Secure $237.5M Bridge Loan For Multifamily Asset In Sleepy Hollow

50 River Street

$237,500,000

$237/SF

Building Size

1,000,000 SF

Asset Type

MultiFamily

Closing

Apr 11, 2025

About this deal

AI

The multifamily asset involves 655 units located at 50 River Street in Sleepy Hollow, known as Edge-on-Hudson and The Daymark. The loan amount secured for this property is $237,500,000, categorized as a bridge loan.

Summary of transaction details:

The transaction features key individuals, including the lender representatives Zach Cion and Sander Gerber from Hudson Bay Capital. The landlords involved are Peter Chavkin of Biddle Real Estate Ventures and Keith Kobyra from King Street Capital, ensuring experienced management of the multifamily asset. A significant team of brokers from Walker & Dunlop played a crucial role in facilitating this transaction.

On the Map

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$237,500,000

$237/SF

MultiFamily

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Players

Aaron Appel

Walker & Dunlop

Broker

$36.6B

vol

214 deals

Broker
Hudson Bay Capital
Hudson Bay CapitalLender

Peter Chavkin

Landlord

$304.5M

vol

2 deals

Landlord
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Sleepy Hollow MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $237 per square foot on a published $237.5M for 1,000,000 square feet (2025).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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