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Sergey Rybak & Jason Reznik Of RYBAK Development Secure $61.5M Loan From MF1 Capital

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FINANCED
$61,500,000
Peter Martz
Jake Weinstein
+ 3

New York

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Mixed-use
Financed
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FINANCED

Sergey Rybak & Jason Reznik Of RYBAK Development Secure $61.5M Loan From MF1 Capital

271 Sea Breeze Avenue, Coney Island, Brooklyn, NY, USA

See Similar Deals
Mixed-use
Financed
Peter Martz
Jake Weinstein
+ 3
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Summary

NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan

The property asset involved in this transaction is located at 271 Sea Breeze Avenue in the Coney Island market. It consists of a multifamily asset with a loan amount of $61,500,000 secured by MF1 Capital.

Summary of transaction details:

The deal involved key individuals and entities, including Sergey Rybak and Jason Reznik, representing RYBAK Development, as the landlords. The brokers facilitating the transaction were Israel Schubert, Jake Weinstein, Peter Martz, and Scott Miller from Meridian Capital Group, highlighting a collaborative effort in managing the financial arrangement.

Players

Israel Schubert
5 deals$376.5M volume
BROKER

Jake Weinstein
Meridian Capital Group
3 deals$127.6M volume
BROKER

Peter Martz
Meridian Capital Group
6 deals$293.4M volume
BROKER

Scott Miller
Meridian Capital Group
13 deals$594.1M volume
BROKER

MF1 Capital
LENDER

Sergey Rybak
Rybak Development
18 deals$490.9M volume
LANDLORD

Sergey Rybak
18 deals$490.9M volume
LANDLORD

Details

FINANCED
IMAGE: Israel Schubert, Jake Weinstein, Jason Reznik, Peter Martz, Sergey Rybak & Scott A. Miller DATE: 08/11/2021 ADDRESS: 271 Sea Breeze Avenue MARKET: Coney Island ASSET TYPE: Multifamily LENDER: MF1 Capital LANDLORD: Sergey Rybak & Jason Reznik - RYBAK Development BROKERS: Israel Schubert, Jake Weinstein, Peter Martz & Scott Miller - Meridian Capital Group LOAN AMOUNT: $61,500,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$61,500,000.00

Monthly NOI$410,000.00
Monthly Debt Service$388,721.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00