We Lend Refinances Multifamily Properties Across Bronx, Queens & Valley Stream With $2.5M Loan
$2,486,612
$530/SF
Building Size
4,692 SF
Asset Type
MultiFamily
Closing
Jan 8, 2024
AI
A multifamily property in Bronx, Queens, and Valley Stream, with a total square footage of 1,564, was recently involved in a closed transaction. The property was refinanced and repositioned by the borrower with the assistance of We Lend, a lending agency.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,486,612
- Lender: We Lend - Ruben Izgel, Moses Suleymanov, Solomon Suleymanov, and Nathan Aronov
- Loan Type: Bridge & Refinance
- Date: 01/08/2024
We Lend played a pivotal role in the deal, offering support to the borrower with multiple properties across different markets. As a result, the borrower was able to successfully reposition, stabilize, and refinance these properties within a year. Notably, We Lend provided a fixed rate for a 30-year period, ensuring financial stability and predictability for the borrower. For more information, interested parties can contact We Lend directly at 212-777-7780 or [email protected].
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.38%
Cash-on-Cash
-1.82%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93