LMF Commercial Provides $6.5 Million Refinance Loan For Brooklyn Multifamily Asset
$6,500,000
$92/SF
Building Size
70,352 SF
Asset Type
MultiFamily
Closing
May 25, 2025
AI
The asset involved in this transaction is a multifamily property located in Brooklyn, featuring a total square footage of 54,888 and comprising 61 units. The loan amount secured for this property was $6,500,000, specifically for refinancing purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Loan Type: Refinance
- Loan Terms: CMBS Refi: 5 Year. FTIO
- Lender: LMF Commercial
- Loan Originator: Nihad Choudhury
- Broker: Damien Lolos - Blue Mountain Capital
The deal was facilitated by key individuals including broker Damien Lolos who represents Blue Mountain Capital, along with loan originator Nihad Choudhury, both playing crucial roles in securing the financing for the multifamily asset in Brooklyn.
Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93