Updated Dec 4, 2024
Wharton Properties Refinances 17-Unit Multifamily In West Village, Manhattan For $14M
72 Bedford Street
$14,000,000
$1,133/SF
Building Size
12,349 SF
Asset Type
MultiFamily
Closing
Oct 31, 2023
About this deal
AI
Wharton Properties, represented by 72 Bedford Street LLC, completed a $14 million refinance loan with lender Webster Bank for their 17-unit residential walkup building at 72 Bedford Street in West Village, Manhattan. The multifamily property spans 12,349 square feet and consists of 17 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,000,000
- Address: 72 Bedford Street, West Village, Manhattan
- Market: West Village, Manhattan
Adam Brenner from Webster Bank served as the lender for the refinance loan, while Jeff Sutton from Wharton Properties acted as the landlord. The transaction took place on October 31, 2023.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93