Probably the wrong forum, but hello anyway.

I'm selling a commercial property and will be doing a 1031 exchange. Looking to buy an apartment bldg in the $2-3M range and will be financing at 65-70 LTV. Besides setting aside $400/unit, how much cash will a bank want me to have on hand or available?

Thank you,

                      Anthony

@Anthony Petrarca The bank will want to look at both the liquidity, as well as reserves in escrow for the property. This number is going to be different across every market, asset type, and lender, but it's something that each lender should provide in their initial preliminary quote, and in most cases is negotiable.

I'll usually ballpark reserves at ~$250/unit for stabilized multifamily. More if there is capex planned or for some reason you're expecting higher than normal rollover / leasing costs.