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1499 Bedford Avenue

H.I.G. Capital Provides $56M Refinance Loan For 1499 Bedford Ave In Crown Heights, Brooklyn
FINANCEDMultiFamily

H.I.G. Capital Provides $56M Refinance Loan For 1499 Bedford Ave In Crown Heights, Brooklyn

1499 Bedford Avenue

$56,000,000

Building Size

Asset Type

MultiFamily

Closing

Dec 29, 2023

AI

The multifamily property located at 1499 Bedford Avenue in Crown Heights, Brooklyn has recently undergone a refinancing transaction. The property has a building size of 110,000 square feet.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $56,000,000
  • Address: 1499 Bedford Avenue
  • Market: Crown Heights, Brooklyn
  • Lender: H.I.G. Capital
  • Landlord: Cheskie Weisz & Neal Einhoren

Managing the financing for this transaction is H.I.G. Capital. Cheskie Weisz and Neal Einhoren hold the property's landlord positions. The broker representing this deal is Shlomo Goldstein from Skyline Capital.

Players

Cheskie Weisz

CW Realty

Broker

$496.8M

vol

18 deals

Broker
H.I.G. Capital
H.I.G. CapitalLender
Cheskie Weisz

Cheskie Weisz

CW Realty

Landlord

$496.8M

vol

18 deals

Landlord

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

0.28%

Cash-on-Cash

-0.08%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93