Updated Oct 29, 2024
Signature Bank Provides $65M Loan For Multifamily Portfolio In Lower East Side, Nolita, East Village, Lenox Hill, And Soho
80 Delancey St, New York, NY 10002, USA
$65,000,000
$53/SF
Building Size
1,218,770 SF
Asset Type
MultiFamily
Closing
Jan 9, 2020
About this deal
AI
A multifamily property located in Lower East Side, Nolita, East Village, Lenox Hill, and Soho has been involved in a closed transaction. The property includes the following addresses: 80 Delancey Street, 53 East Houston Street, 238 East 14th Street, 348 East 66th Street, 135 Sullivan Street, and 219 Mulberry Street. The property consists of a total of 171 units and spans across 121,877 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $65,000,000
- Lender: Signature Bank
- Landlord: Vintage Group
- Loan Amount: $65,000,000
- Units: 171
- Square Footage: 121,877
The transaction involved Signature Bank as the lender and Vintage Group as the landlord. Both parties played important roles in the closed deal.
On the Map
$65,000,000
$53/SF
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
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93