facebook
Traded Co logo
Submit

Regions Bank Provides $7M Construction Loan For 39-unit Multifamily Project In New Haven, CT - Abe Mann, Rosewood Realty Group Represents The Buyer And Avi Meer, Urban Haven Corp Is The Landlord

Property Image
FINANCED
$7,000,000
Abe Mann
AM

Connecticut

See Similar Deals
the dealplayerscompscontact
Property Image
FINANCED

Regions Bank Provides $7M Construction Loan For 39-unit Multifamily Project In New Haven, CT - Abe Mann, Rosewood Realty Group Represents The Buyer And Avi Meer, Urban Haven Corp Is The Landlord

58 Fountain St, New Haven, CT 06515, USA

See Similar Deals
Abe Mann
AM
the dealplayerscompscontact
Contact now

Summary

CONNECTICUT
Transaction Type:Loan

Avi Meer of Urban Haven Corp has secured a $7 million construction loan for a multifamily property located at 58 Fountain St in New Haven, CT. The property spans 45,000 square feet and consists of 39 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $7,000,000
  • Address: 58 Fountain St, New Haven, CT
  • Market: New Haven, CT
  • Square Footage: 45,000
  • Number of Units: 39

The loan was facilitated by Regions Bank and is a construction loan. The terms of the loan include 75% loan-to-cost construction to permanent financing, with 24 months of interest-only payments. The loan has a 10-year term with an earn-out provision upon stabilization.

Abe Mann from Rosewood Realty Group represented the buyer in this transaction. Avi Meer, as the landlord and representative of Urban Haven Corp, secured the loan from Regions Bank.

Players

Abe Mann
Hudson Atlantic Capital
Abe Mann
46 deals$308.6M volume(917) 574-3810
BROKER
AM
Avi Meer
7 deals$34.2M volume
LANDLORD

Details

FINANCED
IMAGE: Abe Mann DATE: 11/29/2022 ADDRESS: 58 Fountain St MARKET: New Haven, CT ASSET TYPE: Multifamily ~ SF: 45,000 ~ UNITS: 39 BROKER: Abe Mann - Rosewood Realty Group LANDLORD: Avi Meer - Urban Haven Corp LENDER: Regions Bank LOAN AMOUNT: $7,000,000 LOAN TYPE: Construction LOAN TERMS: 75% LTC Construction to Perm, 24 months IO, 10 Year Term, Earn Out upon Stabilization

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$7,000,000.00

Monthly NOI$46,666.67
Monthly Debt Service$44,244.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00