Life Co Provides $4.75M Refinance Loan For Multifamily Building On Hull Avenue Bronx
$4,750,000
$569/SF
Building Size
8,339 SF
Asset Type
MultiFamily
Closing
Mar 12, 2025
AI
The property is a multifamily asset located at Hull Avenue in the Bronx. It encompasses a total square footage of 8,339 and includes 14 units, making it a significant residential structure in the area.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,750,000
- Loan Amount: $4,750,000
- Loan Type: Refinance
- Loan Terms: 30 Years
- Lender: Life Co
- Rate: 6.67%
- Construction Type: GroundUp newly constructed 421A Building
This transaction highlights the involvement of Life Co as the lender providing the refinancing for the property, indicating a strategic financial decision associated with the multifamily asset's long-term investment strategy.
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
3.34%
Cash-on-Cash
-0.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93