Updated Nov 3, 2026
Citi Provides $20 Million CMBS Refinance For 9-Story Multifamily Building In Manhattan
9 East 32nd Street
$20,000,000
$503/SF
Building Size
39,740 SF
Asset Type
MultiFamily
Closing
Oct 20, 2026
About this deal
AI
The property asset involved in this transaction is a multifamily, 9-story elevator apartment building located at 9 East 32nd Street in Manhattan. This building encompasses a total square footage of 39,740 and consists of 76 units.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Loan Type: CMBS Refinance
- Lender: Citi
- Landlord's Representative: Jacob Schmuckler & Meir Schlusselberg - Arrow Real Estate Advisors
Key individuals involved in this transaction include Jacob Schmuckler and Meir Schlusselberg, who represent the landlord through their association with Arrow Real Estate Advisors. Their role has been instrumental in facilitating this loan transaction.
On the Map
$20,000,000
$503/SF
MultiFamily
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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
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93