Seraphim Equities Refinances Multifamily Property In City Of Newburgh For $10M
$10,000,000
$83/SF
Building Size
120,000 SF
Asset Type
MultiFamily
Closing
Dec 29, 2022
AI
The property involved in this transaction is a multifamily asset located in City Of Newburgh, Hudson Valley. It consists of 107 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Loan Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: Cash Out
The lender for this transaction is Sharestates and ROC Capital, while the landlord is Seraphim Equities, represented by Adam Shayanfekr.
Note from Landlord: Seraphim Equities specializes in identifying traditional and nontraditional investment opportunities for those seeking to grow their portfolio of real estate holdings. They are dedicated to social responsibility and collaborative efforts to revitalize neighborhoods in financial distress.
About Newburgh: Newburgh is a city within Orange County, known for its historical district and various architectural styles. The city is experiencing a revitalization movement, driven by an artist community, non-profit organizations, and socially conscious developers.
Players
Market 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
1.59%
Cash-on-Cash
-0.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93