Nihad Choudhury's LMF Commercial Provides $17.3M Refinance Loan For NYC Multifamily
$17,300,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 9, 2024
AI
The multifamily property in New York City was involved in a recent refinance transaction. The loan amount for this deal was $17,300,000 with financing provided by Nihad Choudhury from LMF Commercial. The loan terms included a CMBS structure, a 5-year full interest-only period, a 70% loan-to-value ratio, and a full cash-out option.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $17,300,000
- Lender: Nihad Choudhury - LMF Commercial
- Broker: Nate Hyman - Polaris Funding
- Loan Type: Refinance
- Loan Terms: CMBS, 5-year full IO, 70% LTV, Full cash out
Nate Hyman from Polaris Funding played a key role in this transaction as the broker representing the deal, ensuring the successful completion of the refinance. His expertise in the market and negotiation skills contributed to the favorable terms achieved for the multifamily property in New York City.
Players
New York 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
0.92%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93