Martin Nussbaum & David Schwartz Secure $62M Loan For Condo Development In Clinton Hill
FINANCED
$62,000,000
New York
See Similar Deals119,951 SF
Financed 08/13/2021
FINANCED
Martin Nussbaum & David Schwartz Secure $62M Loan For Condo Development In Clinton Hill
325 Lafayette Avenue, Brooklyn, NY 11238, USA
See Similar Deals119,951 SF
Financed 08/13/2021
Summary
NEW YORK
Price Per Square Foot:$516
Total Square Footage:119,951 SF
Transaction Type:Loan
Located in Clinton Hill, the property at 325 Lafayette Avenue is a condominium with 116 units. Spanning over 119,951 square feet, this condo offers a desirable living space in a vibrant market.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $62,000,000
- Address: 325 Lafayette Avenue
- Market: Clinton Hill
- Units: 116
In this transaction, Cerberus Capital Management provided a loan amount of $62,000,000 to facilitate the purchase. The landlords of the property are Martin Nussbaum and David Schwartz, representing latePropertyGroup.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$62,000,000.00
Monthly NOI$413,333.33
Monthly Debt Service$391,882.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions