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CSRE Group Acquires Multifamily Properties In West Haven & East Haven, CT For $18.58M

Property Image
FINANCED
$18,580,000
Jake Weinstein

Connecticut

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MultiFamily829 SF
Financed 12/11/2020
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FINANCED

CSRE Group Acquires Multifamily Properties In West Haven & East Haven, CT For $18.58M

511 Main Street, West Haven, CT, USA

See Similar Deals
MultiFamily829 SF
Financed 12/11/2020
Jake Weinstein
Contact now

Summary

CONNECTICUT
Asset Type:MultiFamily
Price Per Square Foot:$22,412
Total Square Footage:829 SF
Transaction Type:Loan

CSRE Group, led by Chesky Landau, has closed on a multifamily property transaction in West Haven and East Haven, CT. The property, located at 511 Main Street in West Haven and 99 Hemingway Avenue in East Haven, consists of 177 units. The transaction was facilitated by brokers Russ Drebin and Jake Weinstein from Meridian Capital Group, who represented the buyer in the deal. The loan amount for the transaction was $18,580,000, provided by greystone''>Greystone, with Dan Sacks as the lender representative.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $18,580,000
  • Units: 177
  • Landlord: CSRE Group - Chesky Landau
  • Lender: Greystone - Dan Sacks
  • Brokers: Russ Drebin & Jake Weinstein - Meridian Capital Group

The deal showcases the involvement of key individuals and companies in the real estate industry, such as the CSRE Group led by Chesky Landau and Greystone represented by Dan Sacks. The brokers Russ Drebin and Jake Weinstein from Meridian Capital Group played a crucial role in facilitating the transaction between the buyer and the lender. This multifamily property transaction demonstrates the strength of the market in West Haven and East Haven, CT, and the confidence of the involved parties in the investment.

Players

Russ Drebin
3 deals$62.8M volume
BROKER

Jake Weinstein
Meridian Capital Group
3 deals$127.6M volume
BROKER

Greystone
LENDER

Details

FINANCED
IMAGE: Russ Drebin, Dan Sacks, & Jake Weinstein DATE: 12/11/2020 ADDRESS: 511 Main Street & 99 Hemingway Avenue MARKET: West Haven & East Haven, CT ASSET TYPE: Multifamily UNITS: 177 LANDLORD: CSRE Group - Chesky Landau LENDER: Greystone - Dan Sacks BROKER: Russ Drebin & Jake Weinstein - Meridian Capital Group LOAN AMOUNT: $18,580,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$18,580,000.00

Monthly NOI$123,866.67
Monthly Debt Service$117,438.24
Change in Cash Flow$0.00
Refinance Proceeds$0.00