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1133 Manhattan Ave, Brookly...

Domain Companies Secures $61.2M Freddie Mac Refinancing For Eleven33 Multifamily Complex
FINANCEDMultiFamily

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

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.

Players

Freddie Mac
Freddie MacLender

Chris Papamichael

Domain Companies

Landlord

$631M

vol

5 deals

Landlord

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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93