Square Mile Provides $367.5M Acquisition Loan For Multifamily Property In Brooklyn
FINANCED
$367,500,000
+ 1
New York
See Similar DealsMultiFamily680,000 SF
Financed 12/01/2021
FINANCED
Square Mile Provides $367.5M Acquisition Loan For Multifamily Property In Brooklyn
123 Melrose Street, Brooklyn, NY, USA
See Similar DealsMultiFamily680,000 SF
Financed 12/01/2021
+ 1
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$540
Total Square Footage:680,000 SF
Transaction Type:Loan
The multifamily property located at 123 Melrose and 54 Noll St. in Brooklyn has been involved in a closed transaction. The property spans approximately 680,000 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $367,500,000
- Loan Type: Acquisition loan
The lender for this transaction was Square Mile, represented by Michael Lavipour. The landlord of the property is Atlas Capital Group, represented by Jeff Goldberger and Andy Cohen. The brokers involved in the deal were Morris Betesh, Alex Bailkin, and Tamir Kazaz from Meridian Capital Group.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$367,500,000.00
Monthly NOI$2,450,000.00
Monthly Debt Service$2,322,849.99
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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