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81-83 Saint Marks Place

Meadow Partners Refinances $96 Million Loan With Hudson Bay Capital For East Village Properties
FINANCEDMultiFamily

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

Hudson Bay Capital
Hudson Bay CapitalLender

New York 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

0.17%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93