MetLife Provides $143M Loan For Mixed-Use Property On 475 Clermont Ave, Brooklyn
FINANCED
$143,000,000
New York
See Similar DealsMixed-use
Financed 09/10/2021
FINANCED
MetLife Provides $143M Loan For Mixed-Use Property On 475 Clermont Ave, Brooklyn
475 Clermont Ave, Brooklyn, NY, 11238
See Similar DealsMixed-use
Financed 09/10/2021
Summary
NEW YORK
Asset Type:Mixed-use
Transaction Type:Loan
The asset involved in the transaction is a mixed-use property located at 475 Clermont Ave, Brooklyn, NY, 11238. The loan amount secured for this property is $143,000,000.00, indicative of its significance within the Brooklyn market.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $143,000,000.00
- Borrower's Representative: Matthew Hirsch
- Lender: metlife-investment-management'>MetLife
- Date of Loan: 09/10/2021
This transaction involved Matthew Hirsch representing the borrower, while metlife-investment-management'>MetLife was the lender providing financing for the mixed-use asset. The interaction highlights the role of intermediaries in facilitating significant financing arrangements in the Brooklyn area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$143,000,000.00
Monthly NOI$953,333.33
Monthly Debt Service$903,857.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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