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40 South 2nd Street

Bravo Capital Refinances Multifamily Property In Philadelphia For $14.1M
FINANCEDMultiFamily

Bravo Capital Refinances Multifamily Property In Philadelphia For $14.1M

40 South 2nd Street

$14,100,000

$256/SF

Building Size

55,000 SF

Asset Type

MultiFamily

Closing

Feb 23, 2024

AI

The multifamily property located at 40 S 2nd St. in Amble Philadelphia spans 55,000 square feet and comprises 61 units. The loan for this property was secured from Bravo Capital for a total amount of $14,100,000. The property is owned by Parkway Corporation in the market of Philadelphia, PA.

Summary of transation details:

Aaron Krawitz from Bravo Capital acted as the broker in facilitating the loan for this multifamily property deal in Philadelphia. The transaction involved the collaboration of Bravo Capital as the lender and Parkway Corporation as the landlord.

Players

Aaron Krawitz

Bravo Capital

Broker

$693.9M

vol

9 deals

Broker

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

1.13%

Cash-on-Cash

-0.32%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93