New York Life Lends $55M For MultiFamily Property At 75 West End Ave, New York
FINANCED
$55,000,000
New York
See Similar DealsMultiFamily
Financed 04/03/2019
FINANCED
New York Life Lends $55M For MultiFamily Property At 75 West End Ave, New York
75 West End Ave, New York, NY, 10023
See Similar DealsMultiFamily
Financed 04/03/2019
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The $55 million loan was provided by New York Life Real Estate Investors for the refinance of West End Towers, a 1,000-unit apartment community located at 75 West End Ave in New York. The property boasts panoramic river and city views and is situated on the Upper Westside of Manhattan near Lincoln Square.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $55,000,000.00
- Address: 75 West End Ave, New York, NY, 10023
- Market: New York
- Borrower's Rep: Mark Young (New York Life Real Estate Investors)
- Lender: New York Life
Mark Young, representing New York Life Real Estate Investors' New York regional office, secured the financing for the property owner, an affiliate of The Brodsky Organization. The terms of the financing for the transaction were not disclosed.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,000,000.00
Monthly NOI$366,666.67
Monthly Debt Service$347,637.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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