The property asset located at 2071 Ryer Avenue in The Bronx is a multifamily building consisting of 24 units and encompasses a total square footage of 14,258. The transaction involved a loan amount of $5,800,000, which represents a refinance type with terms set at 5 years, a fixed interest rate of 6.00%, and a 30-year amortization schedule. Additionally, the loan entails yield maintenance. The building is occupied entirely by City FHEPS tenants.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,800,000
• Loan Type: Refinance
• Loan Terms: 5 Years, 6.00% Fixed Rate, 30 Years Amortization, Yield Maintenance
• Brokers: Bryan Geffen & Noah Schulman - Meridian Capital Group

This transaction was facilitated by brokers Bryan Geffen and Noah Schulman from Meridian Capital Group, who played a critical role in arranging this loan. The deal was characterized as a construction take-out loan, providing full cash out on a new building.