NewPoint Refinances Multifamily Properties In Bath Beach, Jamaica Hills & Sheepshead Bay For $81.5M
1429 Shore Parkway, Brooklyn, NY, USA
$81,450,000
$133/SF
Building Size
608,200 SF
Asset Type
MultiFamily
Closing
Oct 28, 2021
AI
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.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93