Dean Palin Refinances Multifamily Building In Yorkville For $10.2M With J.P. Morgan Chase
511 East 80th Street
$10,200,000
$61/SF
Building Size
166,686 SF
Asset Type
MultiFamily
Closing
Apr 19, 2024
AI
The 128-unit residential elevator building located at 511 East 80th Street in Yorkville, Manhattan, has been the subject of a $10.2 million refinance loan deal. The loan was finalized with J.P. Morgan Chase & Company by Ursula Flores, with Dean Palin serving as the landlord.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,200,000
- Address: 511 East 80th Street
- Market: Yorkville, Manhattan
- Lender: Ursula Flores - J.P. Morgan Chase & Company
- Landlord: Dean Palin
Dean Palin, represented by 511 East 80th Street, LLC, successfully secured the substantial $10.2 million refinance loan with J.P. Morgan Chase for the residential building at 511 East 80th Street. This transaction highlights the collaboration between Dean Palin, Ursula Flores, and J.P. Morgan Chase & Company in the vibrant real estate market of Yorkville, Manhattan.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.56%
Cash-on-Cash
-0.44%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93