Updated Dec 4, 2024
Equitas Capital Group Secures $5.3M Construction Loan For Multifamily Property In New York City
872 East 164th Street
$5,325,000
$306/SF
Building Size
17,386 SF
Asset Type
MultiFamily
Closing
Apr 26, 2023
About this deal
AI
A construction loan of $5,325,000 has been secured for a multifamily property located at 872 East 164th Street in New York City. The property has a total square footage of 17,386 and consists of 18 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,325,000
- Loan Type: Construction
- Loan Terms: Term - 12 months + 6-month extension; no prepayment penalty; Rate - prime+. 75; LTC - 72.5%; Closing Timeframe - 34 days
The loan was facilitated by Alex Leykind of Equitas Capital Group. As a relationship-driven firm, Equitas Capital Group invests time and resources in their clients, understanding their needs and challenges. They approach each loan from the individual perspective of their clients. To learn more about how Equitas Capital Group can help finance commercial properties, feel free to contact them at 646-637-7510 or via email at [email protected].
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Alex Leykind to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.98%
Cash-on-Cash
-0.85%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93