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Neil Einhorn Secures $58 Million Refinance Loan From Bank Of Montreal For Crown Heights Multifamily
FINANCED
$58,000,000
New York
See Similar DealsMultiFamily
Financed 04/30/2025
FINANCED
Neil Einhorn Secures $58 Million Refinance Loan From Bank Of Montreal For Crown Heights Multifamily
1499 Bedford Avenue
See Similar DealsMultiFamily
Financed 04/30/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily residential building located at 1499 Bedford Avenue in Crown Heights, Brooklyn. The property contains 58 units and is associated with a refinance loan transaction amounting to $58 million, which was secured by the landlord.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $58,000,000
- Address: 1499 Bedford Avenue
- Market: Crown Heights, Brooklyn
- Lender: Bank of Montreal (BOM)
- Landlord: Neil Einhorn
- Loan Type: Refinance
Neil Einhorn, through 1499 Bedford LLC, facilitated the refinancing process with Bank of Montreal to enhance the financial structure of the building. This transaction reflects a significant financing initiative within the Brooklyn multifamily market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$58,000,000.00
Monthly NOI$386,666.67
Monthly Debt Service$366,599.45
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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