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F&M Realty LLC Secures $11.7M Refinance Loan For Washington Heights Multifamily
FINANCED
$11,700,000
New York
See Similar DealsMultiFamily75,240 SF
Financed 07/31/2023
FINANCED
F&M Realty LLC Secures $11.7M Refinance Loan For Washington Heights Multifamily
MultiFamily75,240 SF
Financed 07/31/2023
Summary
Asset Type:MultiFamily
Price Per Square Foot:$155
Total Square Footage:75,240 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$11,700,000.00
Monthly NOI$78,000.00
Monthly Debt Service$73,951.96
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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