Santander Bank Provides $43.5M Recapitalization Loan For West Village Multifamily

The property involved in the transaction is a multifamily asset located at 1 Christopher Street in the West Village neighborhood. The property spans a total square footage of 102,354.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $43,500,000
• Market: West Village
• Lender: Santander Bank
• Brokers: Eli Serebrowski & Meir Schlusselberg - Meridian Capital Group
• Loan Type: Recapitalization
• Loan Terms: 3.07% for 10 Years IO

The loan was provided by Santander Bank as part of a recapitalization transaction. Eli Serebrowski and Meir Schlusselberg from Meridian Capital Group served as the brokers for the deal. The loan amount totaled $43,500,000 with a fixed interest rate of 3.07% for 10 years, with an interest-only payment structure.