Life Co Provides $4.75M Refinance Loan For Multifamily Building On Hull Avenue Bronx
FINANCED
$4,750,000
New York
See Similar DealsMultiFamily8,339 SF
Financed 03/12/2025
FINANCED
Life Co Provides $4.75M Refinance Loan For Multifamily Building On Hull Avenue Bronx
MultiFamily8,339 SF
Financed 03/12/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$569
Total Square Footage:8,339 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,750,000.00
Monthly NOI$31,666.67
Monthly Debt Service$30,023.23
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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