Friedland Properties And Rose Associates Refinance Luxury Rentals In Flatiron, New York
7 West 21st St, New York, NY 10010, USA
Building Size
24,000 SF
Asset Type
Other
Closing
Apr 19, 2018
About this deal
AI
The luxury rental property at 7 West 21st Street in the Flatiron district of New York has undergone a refinancing transaction. The property is owned by Friedland Properties, led by Lawrence and William Friedland, along with Rose Associates represented by Amy Rose and Adam R. Rose. The lender for this transaction was Wells Fargo Multifamily Capital, with Timothy J. Sloan as their representative.
Summary of transaction details:
- Property Type: Luxury rentals
- Transaction Amount: N/A
- Landlord: Friedland Properties (Lawrence and William Friedland) and Rose Associates (Amy Rose and Adam R. Rose)
- Lender: Wells Fargo Multifamily Capital (Timothy J. Sloan)
Noteworthy individuals involved in this transaction include Lawrence and William Friedland from Friedland Properties, as well as Amy Rose and Adam R. Rose representing Rose Associates. The lending institution, Wells Fargo Multifamily Capital, was represented by Timothy J. Sloan.
Players
New York Other Market Snapshot
Boundary boundary · Other · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93