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Arbor Realty Provides $40.5M Loan For Multifamily Property On Manhattan Avenue

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FINANCED
$40,500,000

New York

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MultiFamily83,968 SF
Financed 05/27/2021
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Property Image
FINANCED

Arbor Realty Provides $40.5M Loan For Multifamily Property On Manhattan Avenue

1056 Manhattan Avenue, Brooklyn, NY, USA

See Similar Deals
MultiFamily83,968 SF
Financed 05/27/2021
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$482
Total Square Footage:83,968 SF
Transaction Type:Loan

The multifamily property located at 1056 Manhattan Avenue has been involved in a recent loan transaction. The loan was provided by Arbor Realty. The landlord of the property is Bruman Realty, represented by Joseph Brunner. The loan amount for this transaction was $40,500,000, and the property spans a total of 83,968 square feet with 90 units.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $40,500,000
  • Address: 1056 Manhattan Avenue
  • Lender: Arbor Realty
  • Landlord: Bruman Realty - Joseph Brunner
  • Square Footage: 83,968
  • Number of Units: 90

This loan transaction showcases the collaboration between Arbor Realty and Bruman Realty, represented by Joseph Brunner. The deal highlights their involvement in the real estate market, with the multifamily property at 1056 Manhattan Avenue serving as the focal point. The loan amount of $40,500,000 reinforces the significance of this transaction, which involves a property spanning a total of 83,968 square feet and comprising 90 residential units.

Details

FINANCED
IMAGE: Ivan Kaufman DATE: 5/27/2021 ADDRESS: 1056 Manhattan Avenue ASSET TYPE: Multifamily LENDER: Arbor Realty LANDLORD: Bruman Realty - Joseph Brunner LOAN AMOUNT: $40,500,000 SF: 83,968 UNITS: 90

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$40,500,000.00

Monthly NOI$270,000.00
Monthly Debt Service$255,987.55
Change in Cash Flow$0.00
Refinance Proceeds$0.00