Updated Oct 29, 2024
Delshah Capital Acquires Multifamily Property On Morningside Drive For $165M
30 Morningside Drive
Building Size
265,216 SF
Asset Type
MultiFamily
Closing
Dec 16, 2022
About this deal
AI
The loan for a property located at 30 Morningside Drive in Morningside Heights, Manhattan has been finalized. The property is a multifamily building with a total square footage of 265,216 and 205 units. The lender for the loan is Apollo Global Management.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $165,000,000
- Address: 30 Morningside Drive
- Market: Morningside Heights, Manhattan
- Asset Type: Multifamily
- Square Footage: 265,216
- Units: 205
The loan has been secured by Delshah Capital, represented by Michael Shah. Delshah Capital is the landlord for the property. Michael Shah is associated with the brokerage agency Delshah Capital.
Players
Melbourne MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93