Indigo Developers Secures $9 Million Refinance Loan From First County Bank For Bronx Multifamily
652 East 213th Street
$9,000,000
$395/SF
Building Size
22,759 SF
Asset Type
MultiFamily
Closing
Jun 10, 2026
AI
A refinancing loan of $9 million was secured by Indigo Developers for a 27-unit residential building located at 652 East 213th Street in the Bronx. The asset spans a total square footage of 22,759. This transaction pertains to a multi-family property, highlighting its significance in the local market.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $9,000,000
- Address: 652 East 213th Street
- Market: Bronx
- Asset Size: 22,759 SF
- Units: 27
- Lender: First County Bank
- Landlord: Indigo Developers
- Loan Type: Refinance
Indigo Developers, through 3567 Willett LLC, engaged in this refinancing deal with First County Bank, representing a strategic move in their portfolio management for multi-family units within the Bronx area.
Players
Bronx 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
1.76%
Cash-on-Cash
-0.50%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93