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511 East 80th Street

Dean Palin Refinances Multifamily Building In Yorkville For $10.2M With J.P. Morgan Chase
FINANCEDMultiFamily

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

J.P. Morgan Chase
J.P. Morgan ChaseLender

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