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GDS Brightstar Provides $210M Condo Inventory Loan For 1 Clinton Street In Brooklyn Heights

Property Image
FINANCED
$210,000,000
Andrew Iadeluca
Adam Hakim
+ 1

New York

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295,000 SF
Financed 07/01/2020
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Property Image
FINANCED

GDS Brightstar Provides $210M Condo Inventory Loan For 1 Clinton Street In Brooklyn Heights

1 Clinton Street, New York, NY 10002

See Similar Deals
295,000 SF
Financed 07/01/2020
Andrew Iadeluca
Adam Hakim
+ 1
Contact now

Summary

NEW YORK
Price Per Square Foot:$711
Total Square Footage:295,000 SF
Transaction Type:Loan

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

James Murad
62 deals$2.9B volume(646) 290-2012
BROKER

Andrew Iadeluca
17 deals$689.1M volume(315) 480-2540
BROKER

Adam Hakim
Ripco
60 deals$2.9B volume(646) 290-2011
BROKER

Details

FINANCED
IMAGE: Adam Hakim, Andrew Iadeluca, James Murad, David Kramer, Michael Kirchmann & Alan Rudikoff DATE: 07/2021 ADDRESS: 1 Clinton Street MARKET: Brooklyn Heights ASSET TYPE: Condo LENDER: GDS Brightstar (@GDSNY) LANDLORD: Hudson Companies - David Kramer BROKERS: Adam Hakim, James Murad & Andrew Iadeluca - Meridian Capital Group LOAN AMOUNT: $210,000,000 LOAN TYPE: Condo Inventory Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$210,000,000.00

Monthly NOI$1,400,000.00
Monthly Debt Service$1,327,342.85
Change in Cash Flow$0.00
Refinance Proceeds$0.00