Updated Oct 28, 2024
Jay Group Acquires Multifamily Property In Hamilton Heights With $83M Construction Loan
620 West 153rd Street, New York, NY 10031
$83,000,000
$372/SF
Building Size
223,000 SF
Asset Type
MultiFamily
Closing
Dec 3, 2021
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 620 W. 153rd Street in Hamilton Heights. The building has a total square footage of 223,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $83,000,000
- Address: 620 W. 153rd Street
- Market: Hamilton Heights
- Lender: BHI/Be Aviv - Ben Harlev 🤠
- Landlord: Jay Group
- Brokers: Morris Betesh, Omar Ferreira, and Dov Jeremias - Meridian Capital Group
The loan for this transaction is a construction loan provided by BHI/Be Aviv - Ben Harlev. The landlords in this deal are the Jay Group. The brokers involved in the transaction are Morris Betesh, Omar Ferreira, and Dov Jeremias from Meridian Capital Group.
On the Map
$83,000,000
$372/SF
MultiFamily
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Players
New York 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
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93