Updated Dec 27, 2024
David Gomez And Alex Rabin Of Peak Capital Secure $29.75M Bridge Loan For Multifamily Property
410 Amsterdam Avenue, 412 Amsterdam Avenue, 414 Amsterdam Avenue, 416 Amsterdam Avenue, 202 West 80th Street & 204 West 80th Street
$29,750,000
$83/SF
Building Size
59,500 SF
Asset Type
MultiFamily
Closing
Dec 16, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily asset located at 410 Amsterdam Avenue, 412 Amsterdam Avenue, 414 Amsterdam Avenue, 416 Amsterdam Avenue, 202 West 80th Street, and 204 West 80th Street in the Upper West Side market. The total square footage of the asset is 59,500, comprising 77 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $29,750,000
- Loan Amount: $29,750,000
- Loan Type: Bridge
- Lender: Zach Kiel - Argentic
- Landlords: David Gomez & Alex Rabin - Peak Capital
- Brokers: Michael Lohan & Mitch Uris - Nineteen Blocks
The transaction features key individuals and companies including Zach Kiel who represents Argentic as the lender. David Gomez and Alex Rabin represent the landlords under Peak Capital, and the brokers facilitating the transaction are Michael Lohan and Mitch Uris from Nineteen Blocks.
On the Map
$29,750,000
$83/SF
MultiFamily
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Players
New York 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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93