Updated Oct 29, 2024
InstaLend Corporation Provides $1.7M Refinance Loan For Multifamily Property In Sidney
702 Circle Dr, Sidney, NY 13838
$1,737,800
$113/SF
Building Size
15,300 SF
Asset Type
MultiFamily
Closing
Apr 5, 2023
About this deal
AI
The property involved in this transaction is a multifamily asset located at 702 Circle Drive in Sidney. It has a total square footage of 15,300 and consists of 50 units. The transaction took place on 04/05/2023.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,737,800
- Market: Sidney
The lender for this transaction was InstaLend Corporation. InstaLend is a nationwide lender for real estate loans, providing fast, affordable, and convenient capital to residential real estate developers. As a non-bank real estate lender, they offer short-term loans for acquisition and rehab of single-family and small multifamily properties, as well as long-term loans for stabilized rented properties. Their technology streamlines and automates manual workflow, payments, and reporting.
Contact information for Saurabh Shah, the representative from InstaLend Corporation, is as follows:
- Email: [email protected]
- Phone: 929-523-8947
- Website: www.instalend.com
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
9.13%
Cash-on-Cash
-2.61%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93