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Greystone Provides $35.1M Acquisition Loan For Inwood Portfolio In Manhattan

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FINANCED
$35,146,000

New York

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Package Deal2,315,808 SF
Financed 09/14/2023
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FINANCED

Greystone Provides $35.1M Acquisition Loan For Inwood Portfolio In Manhattan

Inwood Portfolio - 252, 109, 113, 117,121, 129, 133, 125 Sherman Avenue; 574- 578 West 161 Street; 519 West 143 Street, 66 Vermilyea Avenue; 38, 34, 26, 22 & 30 Post Avenue, 252, 109, 113, 117,121, 129, 133, 125 Sherman Avenue, 574 578 West 161 Street, 519 West 143 Street, 66 Vermilyea Avenue & 38, 34, 26, 22, 30 Post Avenue

See Similar Deals
Package Deal2,315,808 SF
Financed 09/14/2023
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Summary

NEW YORK
Asset Type:Package Deal
Price Per Square Foot:$15
Total Square Footage:2,315,808 SF
Transaction Type:Loan

The transaction involves a package deal consisting of multiple properties located at 252, 109, 113, 117, 121, 129, 133, 125 Sherman Avenue; 574-578 West 161 Street; 519 West 143 Street; 66 Vermilyea Avenue; and 38, 34, 26, 22 & 30 Post Avenue in the Inwood area of Manhattan. The total square footage of the assets is 385,968, and the deal includes 433 residential units. The acquisition loan amounts to $35,146,000, financed by Greystone.

Summary of transaction details:

  • Property Type: Package Deal
  • Transaction Amount: $35,146,000
  • Asset Size: 385,968 SF
  • Units: 433
  • Address: 252, 109, 113, 117, 121, 129, 133, 125 Sherman Avenue; 574-578 West 161 Street; 519 West 143 Street; 66 Vermilyea Avenue; 38, 34, 26, 22 & 30 Post Avenue
  • Market: Inwood, Manhattan
  • Lender: Greystone
  • Brokers: Chaim Tessler & Ariel Forman - Meridian Capital Group

Chaim Tessler and Ariel Forman represent Meridian Capital Group in this acquisition deal, acting as brokers to facilitate the transaction. Their role involves providing expertise and guidance throughout the financing process with Greystone.

Players

Chaim Tessler
17 deals$423.1M volume
BROKER

Ariel Forman
Meridian Capital Group
16 deals$399.8M volume
BROKER

Greystone
BROKERAGE

Greystone
LENDER

Details

FINANCED
IMAGE: Chaim Tessler & Ariel Forman DATE: 09/14/2023 ADDRESS: Inwood Portfolio - 252, 109, 113, 117,121, 129, 133, 125 Sherman Avenue; 574- 578 West 161 Street; 519 West 143 Street, 66 Vermilyea Avenue; 38, 34, 26, 22 & 30 Post Avenue MARKET: Inwood, Manhattan ASSET TYPE: Package Deal ~ SF: 385,968 ~ UNITS: 433 LENDER: Greystone BROKERS: Chaim Tessler & Ariel Forman (@ArielForman) - Meridian Capital Group (@Meridian.Capital.Group) LOAN AMOUNT: $35,146,000 LOAN TYPE: Acquisition

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$35,146,000.00

Monthly NOI$234,306.67
Monthly Debt Service$222,146.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00