Clipper Realty Acquires Multifamily Property In East Flatbush For $329M
FINANCED
$329,000,000
New York
See Similar DealsMultiFamily800 SF
Financed 05/12/2020
FINANCED
Clipper Realty Acquires Multifamily Property In East Flatbush For $329M
1403 New York Ave, Brooklyn, NY 11210, USA
See Similar DealsMultiFamily800 SF
Financed 05/12/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$411,250
Total Square Footage:800 SF
Transaction Type:Loan
A multifamily property located at 1403 New York Ave in East Flatbush has been involved in a closed transaction. The property consists of 2,500 units and is owned by Clipper Realty.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $329,000,000
- Loan Amount: $329,000,000
- Loan Terms: 12 years
- Lender: New York Community Bank
- Landlord: Clipper Realty
- Units: 2,500
New York Community Bank provided a loan of $329,000,000 for a period of 12 years. The transaction involved Clipper Realty as the landlord.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$329,000,000.00
Monthly NOI$2,193,333.33
Monthly Debt Service$2,079,503.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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