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Prospect Lefferts Gardens, ...

Bank Of China Provides $223M Loan For Multifamily Property In Prospect Lefferts Gardens, Brooklyn
FINANCEDMultiFamily

Bank Of China Provides $223M Loan For Multifamily Property In Prospect Lefferts Gardens, Brooklyn

Prospect Lefferts Gardens, Brooklyn, NY, USA

$223,000,000

$608/SF

Building Size

366,757 SF

Asset Type

MultiFamily

Closing

Jun 2, 2021

AI

The multifamily property located at 123 Linden Boulevard in Prospect Lefferts Gardens, Brooklyn, has recently been involved in a closed transaction. The property consists of 467 units and is owned by The Moinian Group.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $223,000,000
  • Loan Amount: $223,000,000
  • Lender: Bank of China ๐Ÿ‡จ๐Ÿ‡ณ
  • Landlord: The Moinian Group
  • Broker: Marvin Jeremias - Meridian Capital Group

The loan for this transaction was provided by Bank of China. Marvin Jeremias from Meridian Capital Group represented the parties involved in the deal.

Players

Marvin Jeremias

Crossmark Capital

Broker

$983.6M

vol

12 deals

Broker
The Moinian Group
The Moinian GroupBrokerage
Bank of China
Bank of ChinaLender
The Moinian Group
The Moinian GroupLandlord

Brooklyn MultiFamily Market Snapshot

Boundary boundary ยท MultiFamily ยท Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.07%

Cash-on-Cash

-0.02%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93