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 ๐จ๐ณ
- 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
Brooklyn MultiFamily Market Snapshot
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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