GDS Brightstar Provides $210M Condo Inventory Loan For 1 Clinton Street In Brooklyn Heights
1 Clinton Street, New York, NY 10002
$210,000,000
$711/SF
Building Size
295,000 SF
Asset Type
—
Closing
Jul 1, 2020
AI
Located at 1 Clinton Street in Brooklyn Heights, this condo in the market was involved in a recent closed transaction. The property is owned by Hudson Companies, represented by David Kramer, and features a total of square footage. The deal was facilitated by brokers Adam Hakim, James Murad, and Andrew Iadeluca from Meridian Capital Group. The transaction took place in July 2021.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $210,000,000
- Lender: GDS Brightstar
- Landlord: Hudson Companies - David Kramer
- Brokers: Adam Hakim, James Murad & Andrew Iadeluca - Meridian Capital Group
- Loan Type: Condo Inventory Loan
The key individuals involved in this deal include Adam Hakim, James Murad, and Andrew Iadeluca from Meridian Capital Group, who represented the buyers and sellers. The lenders, GDS Brightstar, provided a condo inventory loan to facilitate the transaction. This closed transaction marks an important milestone in the real estate market in Brooklyn Heights.
Players
New York CRE Market Snapshot
Boundary boundary · CRE · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93