$98 Million Acquisition Loan Secured For Park Slope Mixed-use Portfolio By Jesse Hutcher
$98,000,000
$98,000,000/SF
Building Size
1 SF
Asset Type
Mixed-use
Closing
Jan 9, 2025
AI
The transaction involves a loan secured for a mixed-use portfolio consisting of 26 properties located in Park Slope, Brooklyn. The total loan amount for the acquisition is $98,000,000.
Summary of transaction details:
- Property Type: Mixed-use Portfolio
- Transaction Amount: $98,000,000
- Lender: Jesse Hutcher - Derby Copeland
- Landlords: Edward Ostad & Michael Ostad
- Brokers: Avi Weinstock & Daniel Neiss - Meridian Capital Group
- Loan Type: Acquisition
- Market: Brooklyn
The deal features prominent individuals such as Jesse Hutcher, who represents the lender Derby Copeland, and brokers Avi Weinstock and Daniel Neiss from Meridian Capital Group. Edward Ostad and Michael Ostad are the landlords involved in this transaction.
Players
Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.16%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93