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Fred Wilpon & Saul B. Katz Secure $12.8M Loan From Valley National Bank For Multifamily Properties
FINANCED
$12,800,000
New York
See Similar DealsMultiFamily76,800 SF
Financed 07/01/2025
FINANCED
Fred Wilpon & Saul B. Katz Secure $12.8M Loan From Valley National Bank For Multifamily Properties
1378 Bedford Avenue & 1380 Bedford Avenue
See Similar DealsMultiFamily76,800 SF
Financed 07/01/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$166
Total Square Footage:76,800 SF
Transaction Type:Loan
The transaction involves four adjacent 10-unit residential properties located at 1378, 1380, 1382, and 1384 Bedford Avenue, situated in Crown Heights. The total square footage of the properties is 38,400, and the loan amount secured for this refinance deal is $12,800,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,800,000
- Address: 1378, 1380, 1382 & 1384 Bedford Avenue
- Market: Crown Heights
- Lender: Valley National Bank
- Landlord: Fred Wilpon & Saul B. Katz - Sterling Equities
Key individuals involved in the transaction include Fred Wilpon and Saul B. Katz of Sterling Equities, who are the landlords for the properties. The financing was arranged through Valley National Bank, ensuring the refinancing of these multifamily assets located in Brooklyn.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,800,000.00
Monthly NOI$85,333.33
Monthly Debt Service$80,904.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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