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90 Bristol St, New Haven, C...

Avi Meer Secures $5M Loan From Bankwell For Multifamily Property On Fountain Street, Bristol Street
FINANCEDMultiFamily

Avi Meer Secures $5M Loan From Bankwell For Multifamily Property On Fountain Street, Bristol Street

90 Bristol St, New Haven, CT 06511, USA

$5,000,000

$131/SF

Building Size

38,000 SF

Asset Type

MultiFamily

Closing

Jul 16, 2020

AI

The multifamily property located at 58 Fountain Street and 90 Bristol Street in New Haven, CT has successfully closed a loan transaction. The loan was secured from Bankwell for an amount of $5,000,000. The property spans across 38,000 square feet and consists of 34 units.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $5,000,000
  • Address: 58 Fountain Street, 90 Bristol Street, New Haven, CT
  • Lender: Bankwell
  • Landlord: Avi Meer
  • Broker: Abe Mann – Progress Capital

Abe Mann from Progress Capital represented the parties involved in the transaction as the broker. This successful deal further highlights Avi Meer's role as the landlord.

Players

Abe Mann

Hudson Atlantic Capital

Broker

$308.6M

vol

46 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage

Avi Meer

Urban Haven Corp.

Landlord

$34.2M

vol

7 deals

Landlord

New 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

3.17%

Cash-on-Cash

-0.91%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93