JV Acquires The Lewis Apartments In Manhattan For Loan Financing
411 W 35th St, New York, NY 10018, USA
$86,000,000
$483/SF
Building Size
178,014 SF
Asset Type
Other
Closing
Mar 29, 2018
About this deal
AI
The Lewis, located at 411 West 35th Street in Manhattan, NY, is a residential property consisting of 186 apartment units. The property is jointly owned by Joy Construction, Maddd Equities, and the family of Lewis.
Summary of transaction details
- Property Type: Apartments
Among the key individuals involved in this transaction are Christen E.J. Lee, Matthew A. Salem, Andrew Scandalios, Rory Shepard, Geoff Goldstein, Steven Klein, Drew Katz, Jorge Madruga, and Eli Weiss.
Note: The transaction was financed through a loan.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.18%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93