CSRE Group Acquires Multifamily Properties In West Haven & East Haven, CT For $18.58M
511 Main Street, West Haven, CT, USA
$18,580,000
$22,412/SF
Building Size
829 SF
Asset Type
MultiFamily
Closing
Dec 10, 2020
AI
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
West Haven MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.85%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93