Bank Leumi Provides $47.5M Loan For Condo Development On Sea Breeze Avenue In Coney Island
271 Sea Breeze Avenue
$47,500,000
$263/SF
Building Size
180,000 SF
Asset Type
Condo
Closing
Nov 13, 2018
About this deal
AI
The condominium located at 271 Sea Breeze Avenue in Coney Island has been involved in a recent closed transaction. The property, with a total area of 180,000 square feet, was part of the deal.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $47,500,000
In this transaction, Bank Leumi provided a loan in the amount of $47,500,000. Sergey Rybak, representing Rybak Development, acted as the landlord in the deal. The Carlton Group's Ruth Barone served as the broker.
The condo loan at 271 Sea Breeze Avenue in Brooklyn, New York financed for $47.5M in 2018. The building is 180,000 square feet, implying about 263 per square foot on the published price. Scott Miller, Peter Martz, Jake Weinstein, Israel Schubert appear on the loan alongside Meridian Capital Group. This page is the Brooklyn, New York file for the 271 Sea Breeze Avenue condo financed: pricing, party profiles, and other closed condo comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn condo set by closing date to see what else financed near 271 Sea Breeze Avenue around 2018. Published consideration for 271 Sea Breeze Avenue is $47.5M, dated 2018. Cite this Bank Leumi Provides $47.5M Loan For Condo Development On Sea Breeze Avenue In Coney Island loan when underwriting similar condo product around Brooklyn, New York.
Players
Brooklyn Condo Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93