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Kevin Lalezarian Of Lalezarian Properties Secures $141M Refinance Loan From J.P. Morgan Chase
FINANCED
$141,000,000
New York
See Similar DealsMultiFamily205,662 SF
Financed 08/26/2025
FINANCED
Kevin Lalezarian Of Lalezarian Properties Secures $141M Refinance Loan From J.P. Morgan Chase
511 3rd Avenue
See Similar DealsMultiFamily205,662 SF
Financed 08/26/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$685
Total Square Footage:205,662 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily building located at 511 3rd Avenue in the Murray Hill neighborhood of Manhattan. The property encompasses a total square footage of 205,662 and consists of 229 units. The loan associated with this transaction amounts to $141,000,000 and is categorized as a refinance, replacing prior debt of $120,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $141,000,000
- Address: 511 3rd Avenue
- Market: Murray Hill, Manhattan
- Lender: J.P. Morgan Chase
- Landlord: Kevin Lalezarian - Lalezarian Properties
- Loan Type: Refinance
Key individuals in this transaction include Kevin Lalezarian, representing Lalezarian Properties, who managed the refinance process through JPMorgan Chase, indicating a strategic financial maneuver concerning the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$141,000,000.00
Monthly NOI$940,000.00
Monthly Debt Service$891,215.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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