Updated Apr 1, 2025
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
About this deal
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.
Michael Lee Of HKS Real Estate Advisors Secures $15.45 Million Loan For Multifamily Acquisition In West Village/Chelsea is logged as a multifamily loan on Traded (2025). The building is 45,920 square feet, implying about 336 per square foot on the published price. Michael Lee, HKS Real Estate Advisors appear on the loan alongside HKS Real Estate Advisors. This page is the market file for the Michael Lee Of HKS Real Estate Advisors Secures $15.45 Million Loan For Multifamily Acquisition In West Village/Chelsea multifamily financed: pricing, party profiles, and other closed multifamily comps from the same area sit in the Market section below. Cite this Michael Lee Of HKS Real Estate Advisors Secures $15.45 Million Loan For Multifamily Acquisition In West Village/Chelsea loan when underwriting similar multifamily product.
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