Updated Oct 28, 2024
Signature Bank Provides $180M Loan For Multifamily Properties In Flushing And Bronx
75-25 Netherland Avenue, Bronx, NY, USA
$180,000,000
$231/SF
Building Size
776,383 SF
Asset Type
MultiFamily
Closing
Mar 3, 2021
About this deal
AI
The recently closed property transaction involves a multifamily asset located at 75-25 153rd Street, 5530 Netherland Avenue, and 5535 Netherland Avenue. Situated in the Flushing area of the Bronx, this property offers a total of 826 units spread across a space of 776,383 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $180,000,000
- Lender: Signature Bank
- Landlord: AE Real Estate Holdings
Signature Bank provided a loan amount of $180,000,000 for this multifamily property transaction. AE Real Estate Holdings serves as the landlord for the property deal.
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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93