Updated Dec 4, 2024
Ralph Gelley Of Sheridan Capital Secures $2.175M Refinance Loan For Multifamily Property In Philadelphia
2059 Germantown Avenue
$2,175,000
$171/SF
Building Size
12,650 SF
Asset Type
MultiFamily
Closing
Jul 18, 2024
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 2059 Germantown Avenue, Philadelphia, PA. It encompasses a total square footage of 12,650 and consists of 8 units. The loan associated with this transaction is a refinance amounting to $2,175,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,175,000
- Address: 2059 Germantown Avenue
- Market: Philadelphia, PA
- Asset Size: 12,650 SF
- Units: 8
- Lender: Ralph Gelley - Sheridan Capital
- Brokers: Shalom Krohn - Meridian Capital Group
- Loan Type: Refinance
This transaction prominently features Ralph Gelley of Sheridan Capital as the lender, while Shalom Krohn from Meridian Capital Group acts as the broker for this deal. Together, they facilitate the financing aspect of this multifamily property transaction within the Philadelphia market.
Players
Philadelphia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.29%
Cash-on-Cash
-2.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93