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Libremax Capital Provides $63.6M Loan For Williamsburg Condo Development

Property Image
FINANCED
$63,600,000
Peter (Pete) Rotchford
Kristen Knapp
Christopher (Chris) Peck

New York

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65,288 SF
Financed 12/13/2019
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Property Image
FINANCED

Libremax Capital Provides $63.6M Loan For Williamsburg Condo Development

722 Metropolitan Avenue, Brooklyn, NY 11211, USA

See Similar Deals
65,288 SF
Financed 12/13/2019
Peter (Pete) Rotchford
Kristen Knapp
Christopher (Chris) Peck
the dealplayerscompscontact
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Summary

NEW YORK
Price Per Square Foot:$974
Total Square Footage:65,288 SF
Transaction Type:Loan

The property involved in this closed transaction is a condominium located at 722 Metropolitan Avenue in Williamsburg. The asset covers a total area of 65,288 square feet and consists of 69 units.

Summary of transaction details

  • Property Type: Condo
  • Transaction Amount: $63,600,000
  • Loan Terms: 2+1
  • Address: 722 Metropolitan Avenue
  • Market: Williamsburg

The loan for this transaction was provided by Libremax Capital. The landlord of the property is SL Development, represented by Ray Steffen and Page Leidy. The brokers involved in the deal were Chris Peck, Pete Rotchford, and Kristen Knapp from JLL.

Players

Christopher (Chris) Peck
JLL
Christopher Peck
70 deals$14.6B volume(212) 632-1812
BROKER
Kristen Knapp
JLL
Kristen Knapp
7 deals$1.2B volume(617) 848-1572
BROKER
Peter (Pete) Rotchford
JLL
Peter Rotchford
63 deals$8.9B volume(212) 632-1822
BROKER
Libremax Capital
Libremax Capital
LENDER

Details

FINANCED
IMAGE: Chris Peck, Ray Steffen, Pete Rotchford, Page Leidy & Kristen Knapp DATE: 12/13/2019 ADDRESS: 722 Metropolitan Avenue MARKET: Williamsburg ASSET TYPE: Condo LENDER: Libremax Capital LANDLORD: SL Development - Ray Steffen & Page Leidy BROKERS: Chris Peck, Pete Rotchford, Kristen Knapp @JLL LOAN AMOUNT: $63,600,000 LOAN TERMS: 2+1 SF: 65,288 UNITS: 69 (Condo)

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$63,600,000.00

Monthly NOI$424,000.00
Monthly Debt Service$401,995.26
Change in Cash Flow$0.00
Refinance Proceeds$0.00