Updated Oct 29, 2024
Jared Sobel @CBRE Arranges $12.4M Fannie Mae Loan For 93-Unit Multifamily Property On Croton Ave In Westchester County
66-68 Croton Ave, Ossining, NY 10562, USA
$12,405,000
$171/SF
Building Size
72,320 SF
Asset Type
MultiFamily
Closing
Mar 25, 2020
About this deal
AI
The multifamily property located at 66-68 Croton Ave in Westchester County has recently been involved in a closed transaction. The property spans a total area of 72,320 square feet and comprises 93 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,405,000
- Lender: Fannie Mae
- Broker: Jared Sobel @CBRE
Jared Sobel from CBRE represented the buyer/seller/landlord/tenant in this transaction. The loan obtained for this deal amounts to $12,405,000 with a fixed term of 30 years and an interest rate of 3.83%. The property's prepayment terms include 15 years at YM, 15 years at 1%, and the last 90 days at 0% interest.
Players
Ossining 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
1.28%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93