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1010 Pacific Street

Valley National Bank Provides $80M Refinance Loan For Multifamily Property In Crown Heights, Brooklyn
FINANCEDMultiFamily

Valley National Bank Provides $80M Refinance Loan For Multifamily Property In Crown Heights, Brooklyn

1010 Pacific Street

$80,000,000

Building Size

Asset Type

MultiFamily

Closing

Sep 15, 2023

AI

The multifamily property located at 1010 Pacific Street in Crown Heights, Brooklyn has undergone a refinancing transaction. The loan amount for this transaction was $80,000,000. The lender involved in this refinancing deal is Valley National Bank. The landlord of the property is David Bistricer. The broker representatives for this transaction are Leah Paskus and Pinchas Vogel from Landstone Capital Group.

Summary of transaction details

The individuals and companies involved in this refinancing deal include David Bistricer as the landlord and Leah Paskus and Pinchas Vogel as the broker representatives from Landstone Capital Group. They played crucial roles in facilitating the loan transaction for the multifamily property at 1010 Pacific Street in Crown Heights, Brooklyn.

Players

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
Valley National Bank
Valley National BankLender
David Bistricer

David Bistricer

Clipper Equity

Landlord

$2.8B

vol

23 deals

Landlord

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

0.20%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93