Updated May 12, 2025
Greystone Provides $22.6M Refinance Loan For 262-Unit Multifamily Property In College Station
21 Gramercy Park Dr
$22,600,000
$64/SF
Building Size
351,018 SF
Asset Type
MultiFamily
Closing
Sep 1, 2022
About this deal
AI
The property asset involved in the transaction is located at 21 Gramercy Park Dr., in the market of College Station. It is a multifamily property, comprising 351,018 square feet and encompassing 262 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,600,000
- Loan Type: Refinance
- Lender: Greystone
- Loan Terms: Fannie Mae - 10-year, full term IO, rate locked in under 2 weeks
- Landlord: Jamespoint Management
- Lender's Representatives: Dan Sacks & Harrison Drucker
The key individuals involved in the deal are Dan Sacks and Harrison Drucker, representing the lender Greystone. They facilitated the refinancing of the multifamily property for Jamespoint Management, the landlord of the asset.
Players
Bryan 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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93