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
$350,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 6, 2022
AI
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.
Players
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
0.05%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93