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801-809 West 181st Street

F&M Realty LLC Secures $11.7M Refinance Loan For Washington Heights Multifamily
FINANCEDMultiFamily

F&M Realty LLC Secures $11.7M Refinance Loan For Washington Heights Multifamily

$11,700,000

$155/SF

Building Size

75,240 SF

Asset Type

MultiFamily

Closing

Jul 31, 2023

AI

David Edelstein, operating through F&M Realty LLC, secured an $11.7 million refinance loan from JP Morgan Chase for the 67-unit residential elevator building located at 801-809 West 181st Street in Washington Heights, Manhattan. The property is a multi-family asset with a total square footage of 75,240 and consists of 67 units.

Summary of transaction details

  • Property Type: MultiFamily
  • Transaction Amount: $11,725,000
  • Address: 801-809 West 181st Street
  • Market: Washington Heights, Manhattan
  • Landlord: David Edelstein
  • Lender: JP Morgan Chase
  • Loan Type: Refinance

David Edelstein, representing F&M Realty LLC, successfully obtained the refinance loan from JP Morgan Chase. This transaction highlights his proactive approach in securing financing for the residential elevator building at 801-809 West 181st Street in Washington Heights, Manhattan.

Players

David Edelstein

Tristar Capital

Buyer

$485.2M

vol

7 deals

Buyer
J.P. Morgan Chase
J.P. Morgan ChaseLender

David Edelstein

Tristar Capital

Landlord

$485.2M

vol

7 deals

Landlord

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.36%

Cash-on-Cash

-0.39%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93