Updated Oct 28, 2024
Urban Standard Capital Provides $12M Refinance Loan For Multifamily Property In Harlem
Harlem, New York City, New York, United States
$12,000,000
$1,500/SF
Building Size
8,000 SF
Asset Type
Single Family Residence
Closing
May 18, 2022
About this deal
AI
Located in Harlem, this multifamily property is a significant asset in the market. With a size of 22,590 square feet, the property comprises 28 units, making it a valuable investment opportunity. The property was recently involved in a loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Lender: Urban Standard Capital
- Loan Type: Refinance
- Loan Terms: Construction financing
Charlie Brosens, Cholula, Bean & Jeremy Plofker were the individuals representing the parties involved in the deal. They played a crucial role in securing the loan and ensuring a successful refinancing process for the property.
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93