FINANCEDMultiFamily
Michael Lee Of HKS Real Estate Advisors Secures $15.45 Million Loan For Multifamily Acquisition In West Village/Chelsea
$15,450,000
$336/SF
Building Size
45,920 SF
Asset Type
MultiFamily
Closing
Feb 24, 2025
AI
The asset involved in this transaction is a Multifamily property located in the West Village/Chelsea market. It encompasses a total square footage of 45,920 and consists of 123 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $15,450,000
- Loan Type: Acquisition/Renovation
- Loan Terms: 80% LTC
- Broker: Michael Lee - HKS Real Estate Advisors
The deal is represented by Michael Lee of HKS Real Estate Advisors, who facilitated the transaction on behalf of the involved parties.
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
1.03%
Cash-on-Cash
-0.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93