LMF Commercial (A Lennar Co.) Provides $10M Refinance Loan For Multifamily Property In Midwood
FINANCED
$10,000,000
New York
See Similar DealsMultiFamily56,950 SF
Financed 08/09/2021
FINANCED
LMF Commercial (A Lennar Co.) Provides $10M Refinance Loan For Multifamily Property In Midwood
1532 Ocean Avenue, Brooklyn, NY 11230, USA
See Similar DealsMultiFamily56,950 SF
Financed 08/09/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$175
Total Square Footage:56,950 SF
Transaction Type:Loan
Located in the Midwood market, the property at 1532 & 1609 Ocean Avenue is a multifamily asset spanning 56,950 square feet and comprising 75 units. The transaction, which took place on 8th September 2021, involved a refinancing loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $10,000,000
- Loan Type: Refinance
- Loan Terms: CMBS: 10-yr fixed, full term IO
- Lender: LMF Commercial (A lennar'>lennar'>lennar'>Lennar Co.) - Nihad Choudhury
- Broker: Isaac Sternhill - IS Realty LLC
The financing for this transaction was provided by LMF Commercial, a subsidiary of lennar'>lennar'>lennar'>Lennar Corporation. Nihad Choudhury, representing LMF Commercial, facilitated the loan. On the other side of the deal, Isaac Sternhill of IS Realty LLC served as the broker.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$10,000,000.00
Monthly NOI$66,666.67
Monthly Debt Service$63,206.80
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions