FINANCEDMultiFamily
Heskel's Asset Management Secures $8.6 Million Refinance From FourLeaf Federal Credit Union
567 Fort Washington Avenue
$8,600,000
$143/SF
Building Size
59,976 SF
Asset Type
MultiFamily
Closing
Jun 12, 2026
AI
The asset involved in this transaction is a multifamily residential building located at 567 Fort Washington Avenue in the Washington Heights market of Manhattan. The property encompasses 59,976 square feet and includes a total of 62 units. The refinancing transaction secured a loan amount of $8,600,000 from FourLeaf Federal Credit Union, which replaces existing debt from Webster Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,600,000
- Address: 567 Fort Washington Avenue
- Market: Washington Heights, Manhattan
- Square Footage: 59,976
- Units: 62
- Lender: FourLeaf Federal Credit Union
- Landlord: Ramin Sarraf - Heskel’s Asset Management
- Loan Type: Refinance
The deal was facilitated by Heskel’s Asset Management through Heskel’s FW Realty LLC, representing Ramin Sarraf in the transaction. This refinancing arrangement allows for improved financial management of the property following the transition from the previous loan provider.
Players
Avon 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
1.84%
Cash-on-Cash
-0.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93