Ridge Street Capital Provides $1.55M Refinance Loan For Hamilton Heights Multifamily Property
527 West 141st Street
$1,550,000
$430/SF
Building Size
3,604 SF
Asset Type
MultiFamily
Closing
Feb 13, 2025
AI
The property asset is multifamily in nature, located at 527 West 141st Street in the Hamilton Heights market. This asset encompasses a total square footage of 3,604 and consists of 5 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,550,000
- Loan Amount: $1,550,000
- Loan Type: Refinance
- Loan Terms: Rate of 7.375, LTV 58.50%, 30 YR FRM
- Lender: Ridge Street Capital
The transaction involved Ridge Street Capital as the lender providing a refinance loan for the multifamily property. This deal highlights the financing terms agreed upon, reflecting the interest rate and loan-to-value ratio as critical factors in this closed transaction.
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
10.23%
Cash-on-Cash
-2.92%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93