Eli Chetrit Acquires Multifamily Property At 989-993 Sixth Avenue In Garment District For $350M
FINANCED
$350,000,000
New York
See Similar DealsMultiFamily
Financed 07/07/2022
FINANCED
Eli Chetrit Acquires Multifamily Property At 989-993 Sixth Avenue In Garment District For $350M
989-993 6th Avenue, New York City, New York 10018, United States
See Similar DealsMultiFamily
Financed 07/07/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
Eli Chetrit, Isaac Chetrit, and Ray Yadidi, representing Sioni Group, have closed a construction loan deal for a multifamily property located at 989-993 Sixth Avenue in the Garment District. The loan amount for this transaction was $350,000,000. The property consists of 300 units and is currently under construction.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $350,000,000
- Address: 989-993 Sixth Avenue
- Market: Garment District
- Landlord: Eli Chetrit, Isaac Chetrit & Ray Yadidi - Sioni Group
- Units: 300
- Loan Type: Construction
Eli Chetrit, Isaac Chetrit, and Ray Yadidi, as representatives of Sioni Group, played a key role in securing this loan for the multifamily property. The deal highlights their expertise in the real estate industry and showcases their commitment to the development of properties in the Garment District.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$350,000,000.00
Monthly NOI$2,333,333.33
Monthly Debt Service$2,212,238.08
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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