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Bank OZK And CanAm Enterprises Provide $108.15M Construction Loan For Bushwick Multifamily Property

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FINANCED
$108,150,000
Sean Bastian
Michael Diaz
Keith Kurland
+ 3

New York

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MultiFamily228,674 SF
Financed 12/07/2023
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Property Image
FINANCED

Bank OZK And CanAm Enterprises Provide $108.15M Construction Loan For Bushwick Multifamily Property

12 Halsey Street

See Similar Deals
MultiFamily228,674 SF
Financed 12/07/2023
Sean Bastian
Michael Diaz
Keith Kurland
+ 3
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$472
Total Square Footage:228,674 SF
Transaction Type:Loan

The multifamily property located at 12 Halsey Street in Bushwick, Brooklyn has been involved in a recent loan transaction. The property spans over 228,674 square feet and consists of 240 units. The transaction took place on 12/07/2023.

Summary of transation details

The loan amount for this transaction was $108,150,000 and it was provided by Bank OZK and CanAm Enterprises. The landlords involved in the deal are Hope Street Capital and EJS Group. Representing the transaction were brokers Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Diaz, and Sean Bastian from Walker & Dunlop.

Players

Aaron Appel
Walker & Dunlop
Aaron Appel
190 deals$31.9B volume
BROKER
Jonathan Schwartz
Walker & Dunlop
Jonathan Schwartz
165 deals$26.9B volume
BROKER
Keith Kurland
Walker & Dunlop
Keith Kurland
170 deals$29.1B volume
BROKER
Sean Bastian
Walker & Dunlop
Sean Bastian
33 deals$4.7B volume
BROKER
Adam Schwartz
Walker & Dunlop
Adam Schwartz
160 deals$25.4B volume(646) 491-8869
BROKER
Michael Diaz
Walker & Dunlop
Michael Diaz
37 deals$4.1B volume
BROKER
Bank OZK
Bank OZK
LENDER
CanAm Enterprises
CanAm Enterprises
LENDER
Hope Street Capital
Hope Street Capital
LANDLORD
EG
EJS Group
LANDLORD

Details

FINANCED
IMAGE: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Diaz & Sean Bastian DATE: 12/07/2023 ADDRESS: 12 Halsey Street MARKET: Bushwick, Brooklyn ASSET TYPE: Multifamily ~ SF: 228,674 ~ UNITS: 240 LENDER: Bank OZK (@BankOZK) & CanAm Enterprises LANDLORD: Hope Street Capital & EJS Group BROKERS: Aaron Appel, Jonathan Schwartz (@JSchwa1386), Keith Kurland (@KaKurland), Adam Schwartz (@AdamSchwartz88), Michael Diaz & Sean Bastian - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $108,150,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$108,150,000.00

Monthly NOI$721,000.00
Monthly Debt Service$683,581.57
Change in Cash Flow$0.00
Refinance Proceeds$0.00