First Republic Bank Provides $8.4M Loan For Multifamily Properties On West 68th St. And West 10th St
FINANCED
$8,400,000
New York
See Similar DealsMultiFamily10,281 SF
Financed 07/01/2022
FINANCED
First Republic Bank Provides $8.4M Loan For Multifamily Properties On West 68th St. And West 10th St
73 West 68th Street, New York City, New York 10023, United States
See Similar DealsMultiFamily10,281 SF
Financed 07/01/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$817
Total Square Footage:10,281 SF
Transaction Type:Loan
The multifamily property located at 73 West 68th St. and 198 West 10th St. in Manhattan has recently undergone a loan transaction. The property spans approximately 10,281 square feet and falls under the multifamily asset category.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,400,000
- Loan Type: Acquisition
- Loan Terms: 3.35% Fixed for 10 Years, 5 Years Interest Only
The loan was provided by First Republic Bank, serving as the lender for this transaction. On the landlord side, the property is jointly owned by 3517 Schaefer and 198 W. 10th Street Owner. The brokers involved in facilitating this deal were Jonathan Aghravi, Tim Cox, and Eli Terry from JBA Equities LLC.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$8,400,000.00
Monthly NOI$56,000.00
Monthly Debt Service$53,093.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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