Five Star Bank Provides $49.5M Financing For 481-Unit Multifamily Property In Malta
FINANCED
$49,500,000
New York
See Similar DealsMultiFamily
Financed 09/29/2022
FINANCED
Five Star Bank Provides $49.5M Financing For 481-Unit Multifamily Property In Malta
1 Landau Boulevard, Malta, New York 12020, United States
See Similar DealsMultiFamily
Financed 09/29/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
LeCesse Development has secured a $49,500,000 financing loan from Five Star Bank for a multifamily property located at 1 Landau Blvd. in Malta. The property consists of 481 units and is situated in a vibrant market.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: $49,500,000
- Address: 1 Landau Blvd.
- Market: Malta
In this deal, LeCesse Development acted as the landlord of the property, securing the loan from Five Star Bank. The financing will facilitate the ongoing management and development of this multifamily asset.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$49,500,000.00
Monthly NOI$330,000.00
Monthly Debt Service$312,873.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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