Updated Oct 29, 2024
Domain Companies Secures $61.2M Freddie Mac Refinancing For Eleven33 Multifamily Complex
1133 Manhattan Ave, Brooklyn, NY 11222, USA
Building Size
208,786 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
The recently closed property transaction involves the multifamily complex known as Eleven33, located at 1133 Manhattan Avenue, Brooklyn, NY. The property, owned by Domain Companies and represented by Matt Schwarrtz and Chris Papamichael, has been refinanced with the assistance of Freddie Mac. The lender, represented by Donald H. Layton, provided a loan amount of $61,200,000.
Summary of transaction details:
- Property Type: Multifamily Complex
- Transaction Amount: $61,200,000
- Address: 1133 Manhattan Avenue, Brooklyn, NY
- Landlord: Domain Companies (Matt Schwarrtz and Chris Papamichael)
- Lender: Freddie Mac (Donald H. Layton)
Donald H. Layton from Freddie Mac played a crucial role in facilitating the refinancing of Eleven33. The property owners, Matt Schwarrtz and Chris Papamichael of Domain Companies, entrusted Freddie Mac with the loan amount of $61,200,000 for this transaction.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93