Equitas Capital Group Provides $1.059M Construction Loan For Harlem SFR
23 East 127th Street, New York City, New York 10035, United States
$1,059,000
$306/SF
Building Size
3,460 SF
Asset Type
Single Family Residence
Closing
Jan 26, 2022
AI
The property involved in this closed transaction is a single-family home located at 23 East 127th St. in the Harlem market. The home has a total square footage of 3,460.
Summary of transaction details
- Property Type: Single-Family Home
- Transaction Amount: $1,059,000
- Address: 23 East 127th St.
- Market: Harlem
- Landlord: Alla Bares
The brokers who represented the deal were Alex Leykind and Michael Fey from Equitas Capital Group.
The loan obtained for this transaction was a construction loan with the following terms: an interest rate of 5.25%, a term of 18 months, and an amortization schedule of interest only.
Equitas Capital Group, specializing in commercial real estate financing, provided tailor-made solutions for this transaction. Their relationship-driven approach ensures that each loan is viewed from the client's individual perspective. For more information on how Equitas Capital Group can help finance your next commercial property, please contact them at 646-637-7510 or [email protected].
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
14.98%
Cash-on-Cash
-4.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93