NewPoint Refinances Multifamily Properties In Bath Beach, Jamaica Hills & Sheepshead Bay For $81.5M
FINANCED
$81,450,000
New York
See Similar DealsMultiFamily608,200 SF
Financed 10/29/2021
FINANCED
NewPoint Refinances Multifamily Properties In Bath Beach, Jamaica Hills & Sheepshead Bay For $81.5M
1429 Shore Parkway, Brooklyn, NY, USA
See Similar DealsMultiFamily608,200 SF
Financed 10/29/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$133
Total Square Footage:608,200 SF
Transaction Type:Loan
Three properties located at 1429 Shore Parkway, 166-05 Highland Avenue, and 1230 Avenue Y in Bath Beach, Jamaica Hills, and Sheepshead Bay were recently involved in a loan transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $81,450,000
- Square Footage: 608,200
- Number of Units: 597
- Market: Bath Beach, Jamaica Hills, and Sheepshead Bay
The loan was provided by NewPoint, with Mia Bergen representing the lender. The borrower is Cammeby’s International Group, represented by Rubin Schron and Eli Schron.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$81,450,000.00
Monthly NOI$543,000.00
Monthly Debt Service$514,819.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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