Yihai Group Secures $26M Loan For Multifamily Property In Williamsburg
111 Kent Avenue, Williamsburg, Brooklyn, NY, USA
$26,000,000
$316/SF
Building Size
82,081 SF
Asset Type
MultiFamily
Closing
Dec 10, 2020
AI
The multifamily property located at 111 Kent Avenue in Williamsburg, was involved in a closed transaction. The property consists of 62 units and has a total square footage of 82,081. The transaction took place on 12/11/2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,000,000
- Address: 111 Kent Avenue
- Market: Williamsburg
Citigroup provided the loan for this transaction. The loan amount was $26,000,000. Yihai Group, represented by Linda Wong, is the landlord who purchased the property for $45.34 million on 8/20.
Players
New York 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
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93