Peter Hungerford And David Kaye Secure $54M Loan For Multifamily Portfolio Acquisition In New York City
FINANCED
$54,000,000
New York
See Similar DealsMultiFamily568,406 SF
Financed 07/12/2024
FINANCED
Peter Hungerford And David Kaye Secure $54M Loan For Multifamily Portfolio Acquisition In New York City
MultiFamily568,406 SF
Financed 07/12/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$95
Total Square Footage:568,406 SF
Transaction Type:Loan
The asset involved in this transaction is a Multifamily Portfolio located in New York City, consisting of 10 buildings with a total square footage of 568,406 and comprising 592 units. The loan amount for this acquisition is $54,000,000.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $54,000,000
- Market: New York City
- Lender: Prime Finance
- Landlord: Peter Hungerford - PH Realty, Alma Realty & David Kaye - Rockledge Capital
- Brokers: Brian Flax, Morris Betesh & Jacob Schmuckler - Meridian Capital Group
- Loan Type: Acquisition
- Building Count: 10
Key individuals in the transaction include Peter Hungerford and David Kaye acting as landlords, while the brokers representing the deal are Brian Flax, Morris Betesh, and Jacob Schmuckler from Meridian Capital Group.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$54,000,000.00
Monthly NOI$360,000.00
Monthly Debt Service$341,316.73
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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