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Damien Smith & Peter Zuccarello Secure $30M Loan For Lower East Side Multifamily Property

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FINANCED
$30,000,000

New York

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MultiFamily40,773 SF
Financed 04/30/2021
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Property Image
FINANCED

Damien Smith & Peter Zuccarello Secure $30M Loan For Lower East Side Multifamily Property

61-63 Pitt Street, Lower East Side, New York, NY, USA

See Similar Deals
MultiFamily40,773 SF
Financed 04/30/2021
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$735
Total Square Footage:40,773 SF
Transaction Type:Loan

Located at 61-63 Pitt St. in the Lower East Side of Manhattan, this closed transaction involved a multifamily property. The property, consisting of a 12-story building with 59 units, spans a total area of 40,773 square feet. The deal was finalized on April 30, 2021, and the asset type of the property is stated as a Multifamily.

Summary of transaction details

  • Property Type: Multifamily (12-Story, 59-Unit)
  • Address: 61-63 Pitt St.
  • Market: Lower East Side, Manhattan
  • Square Footage: 40,773

In this transaction, Damien Smith and Peter Zuccarello served as the landlords. The loan for the deal was provided by Paul Rahimian from Parkview Financial, with a loan amount of $30,000,000.

Players

Parkview Financial
Parkview Financial
LENDER
Damien Smith
Prosper Property Group
Damien Smith
6 deals$80.7M volume
LANDLORD

Details

FINANCED
IMAGE: Damien Smith, Paul Rahimian & Peter Zuccarello DATE: 04/30/2021 ADDRESS: 61-63 Pitt St. MARKET: Lower East Side, Manhattan ASSET TYPE: Multifamily (12-Story, 59-Unit) SF: 40,773 LENDER: Paul Rahimian - Parkview Financial (@Parkview.Financial) LANDLORD: Damien Smith & Peter Zuccarello LOAN AMOUNT: $30,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$30,000,000.00

Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00