Updated Nov 27, 2024
Stagg Group Secures $12.2M Loan From Berkadia Commercial Mortgage For Bronx Multifamily
761 E 233rd St Bronx, NY 10466, USA
$12,200,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 20, 2023
About this deal
AI
The multifamily property located at 761 E. 233rd St. in the Bronx recently secured a $12.2 million loan from Berkadia Commercial Mortgage. This loan amount will provide financial support for the property's owner, Stagg Group, in their ongoing operations and investments.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,200,000
- Lender: Berkadia Commercial Mortgage
- Landlord: Stagg Group - Mark Stagg
This loan transaction highlights the partnership between Stagg Group and Berkadia Commercial Mortgage. Stagg Group, led by Mark Stagg, is a prominent player in the real estate market, particularly in the Bronx area. Their portfolio encompasses various properties, including this multifamily asset at 761 E. 233rd St.
Berkadia Commercial Mortgage, a reputable lender, recognized the value and potential of Stagg Group's multifamily property, leading to the approval of the $12.2 million loan. This financial resource will contribute to the growth and development of the property, ensuring its continued success in the Bronx market.
On the Map
$12,200,000
MultiFamily
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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
1.30%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93