Life Co Provides $6.5M Refinance For 421A Multifamily Building On Saxon Avenue Bronx

The property asset involved in the transaction is a multifamily building located at Saxon Avenue in the Bronx. It comprises 17,667 square feet and consists of 17 units. The transaction was executed with a refinancing loan amount of $6,500,000 over a term of 30 years, with a rate of 6.67%. This property is a GroundUp newly constructed 421A building.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $6,500,000
• Address: Saxon Avenue
• Market: Bronx
• Asset Size: 17,667 SF
• Units: 17
• Lender: Life Co
• Loan Type: Refinance
• Loan Terms: 30 Years
• Note from Lender: GroundUp newly constructed 421A Building, Rate 6.67%

This transaction involved Life Co as the lender. The refinancing supports the property’s operational and financial framework, enhancing its development potential in a growing market.