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410 Amsterdam Avenue

David Gomez And Alex Rabin Of Peak Capital Secure $29.75M Bridge Loan For Multifamily Property
FINANCEDMultiFamily

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

357,000 SF

Asset Type

MultiFamily

Closing

Dec 16, 2024

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:

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.

Players

Mitch Uris

Broker

$91.5M

vol

7 deals

Broker
Argentic Real Estate Investment
Argentic Real Estate InvestmentLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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