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
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