Anthony Candela Acquires Mixed-Use Property In Downtown Brooklyn For $59M
FINANCED
$59,000,000
New York
See Similar DealsMixed-use156,115 SF
Financed 01/12/2024
FINANCED
Anthony Candela Acquires Mixed-Use Property In Downtown Brooklyn For $59M
85 Flatbush Avenue Extension
See Similar DealsMixed-use156,115 SF
Financed 01/12/2024
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$377
Total Square Footage:156,115 SF
Transaction Type:Loan
The property involved in this closed transaction is a mixed-use building located at 85 Flatbush Avenue Extension in Downtown Brooklyn. The property spans a total area of 156,115 square feet and consists of both hotel and multifamily units.
Summary of transaction details
- Property Type: Mixed-Use (Hotel/Multifamily)
- Transaction Amount: $59,000,000
- Address: 85 Flatbush Avenue Extension, Downtown Brooklyn
- Market: Downtown Brooklyn
Anthony Candela from Slate Asset Management served as the lender for this transaction. The loan amount provided was $59,000,000 and the loan type was a bridge loan. On the other hand, Ohana Real Estate Investors acted as the landlord for the property.
Mark Fisher and Barnett Wu from JLL represented the parties involved in this deal as brokers.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$59,000,000.00
Monthly NOI$393,333.33
Monthly Debt Service$372,920.13
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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