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Ben Beitel Of Beitel Group Refinances Bronx Multifamily Asset For $175 Million With Varde Partners
FINANCED
$175,000,000
New York
See Similar DealsMultiFamily366,596 SF
Financed 05/20/2026
FINANCED
Ben Beitel Of Beitel Group Refinances Bronx Multifamily Asset For $175 Million With Varde Partners
120 East 144th Street
See Similar DealsMultiFamily366,596 SF
Financed 05/20/2026
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$477
Total Square Footage:366,596 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 120 East 144th Street in the Bronx. The asset encompasses 366,596 square feet and comprises 452 units. The transaction involves a refinance loan amounting to $175,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $175,000,000
- Square Footage: 366,596
- Units: 452
- Address: 120 East 144th Street
- Market: Bronx
- Lender: Varde Partners
- Landlord: Ben Beitel - Beitel Group
- Loan Type: Refinance
Beitel Group, through 120 East 144 Owner LLC, engaged in this refinancing deal, replacing a prior loan of $150,000,000 from Slate Property Group’s SCALE Lending with the new facility from Varde Partners via VMC CRE Master Lending Upper REIT LLC.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$175,000,000.00
Monthly NOI$1,166,666.67
Monthly Debt Service$1,106,119.04
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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