Dustin Tenenbaum Of Emerald Creek Capital Provides $5M Construction Loan For Manhattan Multifamily Asset
FINANCED
$5,000,000
New York
See Similar DealsMultiFamily48,518 SF
Financed 12/26/2024
FINANCED
Dustin Tenenbaum Of Emerald Creek Capital Provides $5M Construction Loan For Manhattan Multifamily Asset
MultiFamily48,518 SF
Financed 12/26/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$103
Total Square Footage:48,518 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located in Manhattan, with a total square footage of 48,518 and comprising 47 units. The loan amount for this transaction is $5,000,000, designated for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Square Footage: 48,518
- Units: 47
- Lender: Dustin Tenenbaum - Emerald Creek Capital
- Brokers: Eric Brody & Marc Dupiton - Anax Real Estate Partners
- Loan Type: Construction
- Date of Transaction: 12/26/2024
- Market: Manhattan
The key individuals involved in this deal include Dustin Tenenbaum, who represents Emerald Creek Capital as the lender, and brokers Eric Brody and Marc Dupiton from Anax Real Estate Partners, who facilitated the transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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