Updated Dec 4, 2024
Finian Sullivan Corp Refinances Monastery Manor Senior Housing In Yonkers For $16.9M
$16,900,000
Units
147
Asset Type
Senior Housing
Closing
Nov 9, 2023
About this deal
AI
Finian Sullivan Corp has secured a $16.9 million loan for the refinancing of Monastery Manor, a 147-unit fully affordable and age-restricted community located at 2 Father Finian Sullivan Drive in Yonkers, New York.
Summary of transaction details
- Property Type: Senior Housing
- Transaction Amount: $16,900,000
- Units: 147
The loan was provided by Jim Gillespie & Ilya Weinstein of Bellwether Enterprise. They acted as the lenders in this transaction.
Finian Sullivan Corp, the landlord, successfully completed the refinancing of Monastery Manor, securing the necessary funds to continue operating and maintaining this affordable and age-restricted community in Yonkers.
Players
Market Senior Housing Market Snapshot
Boundary boundary · Senior Housing · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93