Meadow Partners Refinances $96 Million Loan With Hudson Bay Capital For East Village Properties
81-83 Saint Marks Place, 704 8th Avenue & 167 1st Avenue
$96,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 25, 2024
AI
The properties involved in this transaction include multifamily and mixed-use assets located at 81-83 Saint Marks Place, 704 8th Avenue, and 167 1st Avenue in the East Village, Manhattan. The transaction involves a loan amount of $96 million with a total of 107 residential units and 122,627 square feet of built space.
Summary of transaction details:
- Property Type: Multifamily & Mixed-use
- Transaction Amount: $96,000,000
- Lender: Sander R. Gerber - Hudson Bay Capital
- Landlord: Timothy P. Yantz - Meadow Partners
- Loan Type: Refinance
This refinancing transaction was facilitated by Hudson Bay Capital, representing a substantial financial move for Meadow Partners, which encompasses 15 properties across Manhattan and Brooklyn.
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
0.17%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93