FINANCEDMultiFamily
Nir Mor's Hanover Capital Provides $1.4M Acquisition Loan For Multifamily In Mott Haven, Bronx
$1,400,000
$170/SF
Building Size
8,220 SF
Asset Type
MultiFamily
Closing
Oct 12, 2023
AI
The transaction involves a multifamily asset located in the Mott Haven area of Bronx with a total square footage of 8,220 and comprising 27 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,400,000
- Lender: Nir Mor - Hanover Capital
- Brokers: Michael Hess & Rocky Kelemer - Meridian Capital Group
- Loan Type: Acquisition
Nir Mor from Hanover Capital provided the loan for this acquisition, while Michael Hess and Rocky Kelemer from Meridian Capital Group facilitated the brokerage aspects of the deal.
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
11.33%
Cash-on-Cash
-3.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93