Life Co Provides $7,225,000 Refinance Loan For Multifamily Property On Vyse Avenue In Bronx
FINANCED
$7,225,000
New York
See Similar DealsMultiFamily6,900 SF
Financed 02/25/2025
FINANCED
Life Co Provides $7,225,000 Refinance Loan For Multifamily Property On Vyse Avenue In Bronx
MultiFamily6,900 SF
Financed 02/25/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,047
Total Square Footage:6,900 SF
Transaction Type:Loan
The property asset involved is a multifamily residential building located on Vyse Avenue in the Bronx & Brooklyn market. The total square footage of the asset is 6,900, comprising 29 units. A refinance loan was secured for this property, with the loan amount set at $7,225,000 and a term of 30 years.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $7,225,000
- Address: Vyse Avenue
- Market: Bronx & Brooklyn
- Square Footage: 6,900
- Units: 29
- Lender: Life Co
- Broker: Charlie Lefkowitz - FundMe Commercial Real Estate Funding
- Loan Type: Refinance
- Loan Terms: 30 Years
The key individuals involved in this transaction include the lender, Life Co, and the broker, Charlie Lefkowitz, representing FundMe Commercial Real Estate Funding. This refinance transaction highlights the financial strategies employed by the parties to facilitate the management of this multifamily asset within the Bronx & Brooklyn market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,225,000.00
Monthly NOI$48,166.67
Monthly Debt Service$45,666.91
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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