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
Market 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
1.36%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93