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
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.
Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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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