Life Co Provides $6.5M Refinance For 421A Multifamily Building On Saxon Avenue Bronx
FINANCED
$6,500,000
New York
See Similar DealsMultiFamily17,667 SF
Financed 03/10/2025
FINANCED
Life Co Provides $6.5M Refinance For 421A Multifamily Building On Saxon Avenue Bronx
MultiFamily17,667 SF
Financed 03/10/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$367
Total Square Footage:17,667 SF
Transaction Type:Loan
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.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,500,000.00
Monthly NOI$43,333.33
Monthly Debt Service$41,084.42
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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