Updated May 12, 2025
SkyRock Capital Secures $4.25M Construction Loan For Multifamily Asset At 310 West 144th Street
310 West 144th Street
$4,250,000
$255/SF
Building Size
16,650 SF
Asset Type
MultiFamily
Closing
Apr 10, 2025
About this deal
AI
The property asset involved in the transaction is located at 310 West 144th Street in Harlem, Manhattan. This multifamily asset encompasses a total square footage of 16,650 and consists of 48 units, with a construction loan amount of $4,250,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,250,000
- Address: 310 West 144th Street
- Market: Harlem, Manhattan
- Asset Size: 16,650 SF
- Units: 48
- Lender: Amit Stern, Eli Ben-Meir & Dylan Kronenberg - Arion Fund
- Landlord: SkyRock Capital
- Loan Type: Construction
The deal involves key individuals from Arion Fund, where Amit Stern, Eli Ben-Meir, and Dylan Kronenberg are noted as the lenders. The financing is tailored to support growth and opportunity within the multifamily sector, demonstrating a commitment to delivering customized financial solutions.
On the Map
$4,250,000
$255/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.73%
Cash-on-Cash
-1.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93