FINANCEDMultiFamily
Sheridan Capital Arranges $7M Bridge Loan For Multifamily Property On Cecil B Moore Ave
3002 Cecil B Moore Avenue
$7,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Feb 1, 2024
AI
The property involved in this transaction is a multifamily building located at 3002 Cecil B Moore Avenue in Philadelphia, PA. It consists of 50 units. The transaction took place on 02/01/2024.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Loan Type: Bridge
The deal was facilitated by Asher Bittman from Sheridan Capital. He acted as the broker representing the parties involved in the transaction.
Players
Philadelphia MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93