Louis Lebovits Of BridgeCity Funding Provides $87M Construction Loan For Multifamily Asset In Murray Hill
FINANCED
$87,000,000
New York
See Similar DealsMultiFamily117,255 SF
Financed 08/16/2024
FINANCED
Louis Lebovits Of BridgeCity Funding Provides $87M Construction Loan For Multifamily Asset In Murray Hill
MultiFamily117,255 SF
Financed 08/16/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$742
Total Square Footage:117,255 SF
Transaction Type:Loan
The property asset involved is a multifamily building located in Murray Hill, Manhattan. It encompasses a total of 117,255 square feet and consists of 160 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $87,000,000
- Lender: Louis Lebovits - BridgeCity Funding
- Loan Type: Construction
- Loan Terms: 24 months + extension options
- LTC: 74%
The loan is facilitated by Louis Lebovits, who represents BridgeCity Funding. The lender is actively financing projects across various sectors including mixed-use, residential, industrial and construction in the Tri-State Area and South Florida.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$87,000,000.00
Monthly NOI$580,000.00
Monthly Debt Service$549,899.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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