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Seraphim Equities Refinances Multifamily Property In City Of Newburgh For $10M

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FINANCED
$10,000,000

New York

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MultiFamily120,000 SF
Financed 12/29/2022
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Property Image
FINANCED

Seraphim Equities Refinances Multifamily Property In City Of Newburgh For $10M

MultiFamily120,000 SF
Financed 12/29/2022
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$83
Total Square Footage:120,000 SF
Transaction Type:Loan

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

SC
Sharestates & ROC Capital
LENDER
Adam Shayanfekr
Adam Shayanfekr
5 deals$28.7M volume
LANDLORD

Details

FINANCED
IMAGE: Adam Shayanfekr DATE: 12/29/2022 ADDRESS: City Of Newburgh MARKET: Hudson Valley ASSET TYPE: Multifamily ~ UNITS: 107 LENDER: Sharestates (@Sharestates) & ROC Capital (@ROCCapital) LANDLORD: Seraphim Equities (@SeraphimEquities) - Adam Shayanfekr (@AdamShayanfekr) LOAN AMOUNT: $10,000,000 LOAN TYPE: Refinance LOAN TERMS: CASH OUT NOTE FROM LANDLORD: Seraphim Equities specializes in identifying traditional and nontraditional investment opportunities for those seeking to grow their portfolio of real estate holdings. Our dedication to social responsibility and collaborative efforts have helped revitalize neighborhoods in financial distress, both through charitable donations and direct investments. Our ongoing mission is to help rejuvenate struggling neighborhoods, create job opportunities, improve standards of living while providing investors with attractive returns and turn-key solutions to buying new investment properties About Newburgh: Newburgh is a city within Orange County that sits on the west side of the Hudson River, across from Beacon, NY and is the second-largest historical district in New York State (after Manhattan), housing a variety of architectural styles ranging from Gothic to Greek Revival. The city is also the home of Downing Park, the first iteration of Manhattan’s infamous Central Park and was George Washington’s headquarters during the American Revolutionary war. The urban area located just 60 miles from Manhattan was once a bustling industrial hub with a major port but saw a decline throughout the 20th century. Today, Newburgh reemerges with a major revitalization movement fueled by an existing and growing artist community, non-profit organizations, and ambitious yet socially conscious developers, making Newburgh a city worth exploring

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$10,000,000.00

Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00