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Hudson Companies Secures $39.25M Recapitalization Loan For Williamsburg Multifamily

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FINANCED
$39,250,000
Brett Siegel
Dustin Stolly
+ 4

New York

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MultiFamily
Financed 11/17/2023
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Property Image
FINANCED

Hudson Companies Secures $39.25M Recapitalization Loan For Williamsburg Multifamily

125 Metropolitan Avenue

See Similar Deals
MultiFamily
Financed 11/17/2023
Brett Siegel
Dustin Stolly
+ 4
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 125 Metropolitan Avenue in Williamsburg, Brooklyn has undergone a recapitalization loan transaction. The loan amount for this transaction was $39,250,000. The property is owned by David Kramer of Hudson Companies. The lenders involved in this deal were Voya Financing and Marc Mechanic of Meadow Partners. The brokers who facilitated the transaction were Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Brett Siegel, Jean Celestin, and William Lee of Newmark.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $39,250,000
  • Address: 125 Metropolitan Avenue
  • Market: Williamsburg, Brooklyn

The key individuals involved in this deal include David Kramer as the landlord, and Voya Financing, Marc Mechanic, and Meadow Partners as the lenders. The brokers from Newmark, namely Dustin Stolly, Jordan Roeschlaub, Daniel Fromm, Brett Siegel, Jean Celestin, and William Lee, played a crucial role in facilitating this transaction.

Players

Brett Siegel
75 deals$6.4B volume(212) 372-0798
BROKER

Dustin Stolly
Walker & Dunlop
264 deals$49.1B volume
BROKER

Daniel Fromm
Newmark
82 deals$5.3B volume
BROKER

Jean Celestin
Newmark
3 deals$429.3M volume
BROKER

William "Bill" Lee
Newmark
2 deals$346.3M volume
BROKER

Jordan (Jordy) Roeschlaub
Newmark
321 deals$96.2B volume
BROKER

Voya Financial
LENDER


Details

FINANCED
IMAGE: Daniel Fromm, Dustin Stolly, Jordan Roeschlaub, Brett Siegel, David Kramer, William Lee, Jean Celestin & Marc Mechanic DATE: 11/17/2023 ADDRESS: 125 Metropolitan Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Multifamily LENDER: Voya Financing & Marc Mechanic - Meadow Partners LANDLORD: David Kramer - Hudson Companies (@TheHudsonCos) BROKERS: Dustin Stolly, Jordan Roeschlaub (@JordyRoeschlaub), Daniel Fromm (@Ddwb), Brett Siegel (@BSieges), Jean Celestin & William Lee - Newmark (@Newmark) LOAN AMOUNT: $39,250,000 LOAN TYPE: Recapitalization

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$39,250,000.00

Monthly NOI$261,666.67
Monthly Debt Service$248,086.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00