FINANCEDMultiFamily
Signature Bank Provides $183M Refinance Loan For New York Multifamily Portfolio
New York, United States
$183,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Aug 11, 2022
AI
The multifamily portfolio located in New York has been refinanced with a loan amount of $183,000,000. The portfolio consists of 744 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $183,000,000
- Units: 744
- Market: New York
- Lender: Signature Bank - Joe Fingerman
- Brokers: Chaim Tessler & Ariel Forman - Meridian Capital Group
Joe Fingerman from Signature Bank provided the loan for the refinancing. Chaim Tessler and Ariel Forman, representing Meridian Capital Group, acted as brokers in the transaction.
Players
Signature BankLender
Earlville 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
0.09%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93