Updated May 12, 2025
JP Morgan Chase Provides $5.5 Million Refinance For Multifamily Asset In Larchmont
76 Wendt Avenue
$5,500,000
$190/SF
Building Size
28,846 SF
Asset Type
MultiFamily
Closing
Apr 29, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 76 Wendt Avenue in Larchmont. The property encompasses 28,846 square feet and comprises 27 units. The loan amount secured for this property is $5,500,000, with the loan structured as a refinance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,500,000
- Address: 76 Wendt Avenue
- Market: Larchmont
- Asset Size: 28,846 SF
- Units: 27
- Lender: JP Morgan Chase
- Broker: Mindy Bergman - Meridian Capital Group
- Loan Type: Refinance
The representatives involved in this transaction include Mindy Bergman from Meridian Capital Group, who played a crucial role in facilitating the loan. A note from the broker reiterates the commitment to client success, highlighting the efficacy of Meridian in navigating complex challenges toward seamless closings.
Players
Larchmont 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
2.88%
Cash-on-Cash
-0.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93