Updated Dec 21, 2023
Popular Bank Provides $48M Refinance Loan For Development Site In Flatbush, Brooklyn
160 Clarkson Avenue, Brooklyn, New York 11226, United States
$48,000,000
Building Size
—
Asset Type
Development Site
Closing
Oct 28, 2022
About this deal
AI
A development site located at 160 Clarkson Avenue in Flatbush, Brooklyn has recently undergone a refinancing transaction. The loan, which was finalized on October 28, 2022, amounted to $48,000,000. The lender for this transaction was Popular Bank, represented by Claudette Sofair. The property is owned by Shmuel Wallerstein.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $48,000,000
- Address: 160 Clarkson Avenue, Flatbush, Brooklyn
- Lender: Popular Bank - Claudette Sofair
- Landlord: Shmuel Wallerstein
- Loan Type: Refinance
In this refinancing deal, Popular Bank, represented by Claudette Sofair, acted as the lender. The loan amount of $48,000,000 was provided to refinance the development site located at 160 Clarkson Avenue, Flatbush, Brooklyn. Owned by Shmuel Wallerstein, this property holds potential for future development.
Players
Brooklyn Development Site Market Snapshot
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.33%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93