Bank Leumi Provides $72M Loan For Condominium At 510 Driggs Avenue, Williamsburg, Brooklyn
FINANCED
$72,000,000
New York
See Similar DealsCondo17,500 SF
Financed 11/11/2019
FINANCED
Bank Leumi Provides $72M Loan For Condominium At 510 Driggs Avenue, Williamsburg, Brooklyn
510 Driggs Ave, Brooklyn, NY 11211, USA
See Similar DealsCondo17,500 SF
Financed 11/11/2019
Summary
NEW YORK
Asset Type:Condo
Price Per Square Foot:$4,114
Total Square Footage:17,500 SF
Transaction Type:Loan
The property involved in this closed transaction is a condominium located at 510 Driggs Avenue in Williamsburg, Brooklyn. The transaction took place on 11/11/2019. The property is owned by Northlink Capital, with the loan provided by Bank Leumi. The total loan amount for this transaction was $72,000,000.
Summary of transaction details
- Property Type: Condominium
- Transaction Amount: $72,000,000
- Market: Williamsburg, Brooklyn
The brokers involved in this deal were Morris Betesh, Justin Boruchov, and Alex Bailkin from @Meridian.Capital.Group.
Players
BROKERAGE
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,000,000.00
Monthly NOI$480,000.00
Monthly Debt Service$455,088.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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