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67 Saint Marks Place, New Y...

Citibank Provides $15M Loan For Manhattan Multifamily Properties
FINANCEDMultiFamily

Citibank Provides $15M Loan For Manhattan Multifamily Properties

67 Saint Marks Place, New York, NY, USA

$15,000,000

Building Size

Asset Type

MultiFamily

Closing

Mar 21, 2021

AI

An undisclosed multifamily property in Manhattan has secured a loan of $15 million. The property is located at 67 St. Marks Place, 106 E. 7th St., 217 E. 22nd St., 239 W. 15th St., 426 E. 77th St., and 638-640 E. 14th St. The loan was provided by Joe Dyckman and Eric Mirvis of citibank''>Citibank. The landlord of the property is Arthur Kokot. The transaction was facilitated by brokers Max Herzog, Marko Kazanjian, Hall Oster, and Kristian Lichtenfels from JLL.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,000,000
  • Address: 67 St. Marks Place, 106 E. 7th St., 217 E. 22nd St., 239 W. 15th St., 426 E. 77th St., and 638-640 E. 14th St.
  • Market: Manhattan

The loan was secured through Citibank by Joe Dyckman and Eric Mirvis. The landlord for the property is Arthur Kokot. Max Herzog, Marko Kazanjian, Hall Oster, and Kristian Lichtenfels from JLL represented the parties involved in the transaction.

Players

Marko Kazanjian

Institutional Property Advisors

Broker

$5.4B

vol

71 deals

Broker
Citibank
CitibankLender

Arthur Kokot

Landlord

$25M

vol

2 deals

Landlord

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

1.06%

Cash-on-Cash

-0.30%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93