Conway Capital Refinances East Village Multifamily Property For $3.8M
FINANCED
$3,800,000
New York
See Similar DealsMultiFamily6,390 SF
Financed 11/01/2021
FINANCED
Conway Capital Refinances East Village Multifamily Property For $3.8M
506 East 6th Street, New York City, New York 10009, United States
See Similar DealsMultiFamily6,390 SF
Financed 11/01/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$594
Total Square Footage:6,390 SF
Transaction Type:Loan
Located at 506 East 6th Street in the East Village, this multifamily property is a significant asset in the market. With a total square footage of 6,390, it consists of 14 units, offering ample space for residents.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $3,800,000
- Address: 506 East 6th Street
- Market: East Village
- Loan Type: Refinance
- Loan Terms: CMBS, 10-year, Full Term IO
LMF Commercial (A Lennar Co.) served as the lender for this transaction, providing a loan amount of $3,800,000. The loan was secured by Conway Capital, represented by Abe Cohen as the landlord. The brokers involved in the deal were Jonathan Singer from Strategic Funding Corp. and Robert Tobias from RJT Capital Partners.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,800,000.00
Monthly NOI$25,333.33
Monthly Debt Service$24,018.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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