Updated Mar 11, 2025
Loan · MultiFamily
$5,000,000
$103/SF
Building Size
48,518 SF
Asset Type
MultiFamily
Closing
Dec 26, 2024
About this deal
AI
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.
Players
Market 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
3.17%
Cash-on-Cash
-0.91%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93