Michael J. Gefter Secures $350,000 Loan For Multifamily Property At 18 E Main St Wilmington
18 E Main St
$350,000
$112/SF
Building Size
3,100 SF
Asset Type
MultiFamily
Closing
Jul 13, 2023
AI
The property asset involved in this transaction is located at 18 E Main St, Wilmington. The asset type is Multifamily, and the loan amount associated with this transaction is $350,000.00.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $350,000.00
- Address: 18 E Main St
- Market: Wilmington
- Brokers: Michael J. Gefter
The key individual associated with this transaction is Michael J. Gefter, who represents the buyer in this deal. His involvement is crucial in the coordination and execution of the transaction.
Wilmington 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
45.32%
Cash-on-Cash
-12.95%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93