Updated Oct 16, 2025
Matthew B. Whalen Of Cord Meyer Development Company Secures $29.9 Million Loan For Multifamily Project In White Plains
70 Westchester Avenue
$29,900,000
Units
203
Asset Type
MultiFamily
Closing
Oct 15, 2025
About this deal
AI
The asset involved in the transaction is a multifamily property located at 70 Westchester Avenue in White Plains, New York, comprising 203 units. The transaction was supported by a mezzanine loan amounting to $29,900,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,900,000
- Lender: Siguler Guff & Company
- Landlord: Matthew B. Whalen - Cord Meyer Development Company
- Loan Type: Mezzanine
Siguler Guff completed this transaction to facilitate the construction of a luxury apartment project specifically designed for 203 units. The involvement of Matthew B. Whalen indicates his representation as the landlord through Cord Meyer Development Company.
On the Map
$29,900,000
MultiFamily
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Players
White Plains 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93