Berkshire Bank Provides $33.9M Refinancing Loan For York Multifamily Property
3145 Honey Run Drive, York, Pennsylvania 17408, United States
$33,900,000
Building Size
—
Asset Type
MultiFamily
Closing
Jan 20, 2022
AI
The multifamily property located at 3145 Honey Run Drive in York, PA was recently involved in a refinancing loan transaction. The loan, amounting to $33,900,000, was provided by Berkshire Bank. The landlord, Larken Associates, sought this refinancing loan to meet their financial needs.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $33,900,000
- Address: 3145 Honey Run Drive, York, PA
- Market: York, PA
The brokers responsible for this transaction were Drew Fletcher and Paul Fried from Greystone. Their expertise and knowledge in the market played a crucial role in ensuring a successful refinancing loan for Larken Associates. Their representation and negotiation skills helped secure the loan from Berkshire Bank, providing the necessary financial support for the property.
Players
Dover Township 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
0.47%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93