Updated Dec 4, 2024
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $14,100,000
- Units: 61
- Lender: Bravo Capital
- Landlord: Parkway Corporation
- Broker: Aaron Krawitz - Bravo Capital
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.
On the Map
$14,100,000
$256/SF
MultiFamily
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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
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93