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Nihad Choudhury's LMF Comme...

Nihad Choudhury's LMF Commercial Provides $17.3M Refinance Loan For NYC Multifamily
FINANCEDMultiFamily

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

Nate Hyman

Polaris Funding

Broker

$490.8M

vol

15 deals

Broker
LMF Commercial
LMF CommercialBrokerage
LMF Commercial
LMF CommercialLender

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