Updated Feb 27, 2026
ConnectOne Bank Provides $16.8M Loan For Multifamily Acquisition In Philadelphia With Landlord's Reps
72nd Avenue, 1806 West Champlost Avenue, 1725 West Godfrey Avenue, 7101 North 15th Street, 920 West Spencer Avenue & 5742 North Park Avenue
$16,800,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 22, 2025
About this deal
AI
The transaction involves a multifamily asset, consisting of properties located at 1410 72nd Avenue, 1806 West Champlost Avenue, 1725 West Godfrey Avenue, 7101 North 15th Street, 920 West Spencer Avenue, and 5742 North Park Avenue in Philadelphia, PA. This acquisition has been financed through a loan amounting to $16,800,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $16,800,000
- Lender: ConnectOne Bank
- Landlord's Representative: Morris Betesh, Jacob Schmuckler & Meir Schlusselberg - Arrow Real Estate Advisors
- Loan Type: Acquisition
The individuals involved in this deal include the landlord's representatives, Morris Betesh, Jacob Schmuckler, and Meir Schlusselberg, who are linked with Arrow Real Estate Advisors. They played a key role in facilitating the transaction, representing the landlord throughout the acquisition process.
On the Map
$16,800,000
MultiFamily
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Players
Philadelphia MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.94%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93