Kriss Capital Refinances Condo In South Williamsburg For $45M
429 Kent Avenue, Brooklyn, New York 11249, United States
$45,000,000
$91/SF
Building Size
492,066 SF
Asset Type
—
Closing
Apr 17, 2022
About this deal
AI
The property involved in this closed transaction is a condominium located at 429 Kent Avenue in South Williamsburg. The condo consists of 216 units and is owned by Xin Development Group.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $45,000,000
- Address: 429 Kent Avenue
- Market: South Williamsburg
- Units: 216
- Lender: Kriss Capital
- Landlord: Xin Development Group
- Broker: Stephen Muller - Vanadium Realty
- Loan Type: Refinance
The lender for this transaction is Kriss Capital, while Stephen Muller from Vanadium Realty represented the buyer as the broker. The loan amount for this refinance deal was $45,000,000.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93