White Oak Real Estate Capital Provides $55.5M Construction Loan For Multifamily Property In Bushwick
FINANCED
$55,500,000
New York
See Similar DealsMultiFamily90,000 SF
Financed 12/29/2022
FINANCED
White Oak Real Estate Capital Provides $55.5M Construction Loan For Multifamily Property In Bushwick
159 Boerum Street
See Similar DealsMultiFamily90,000 SF
Financed 12/29/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$616
Total Square Footage:90,000 SF
Transaction Type:Loan
The multifamily property located at 159 Boerum Street in Bushwick has been involved in a closed transaction. The property spans over 90,000 square feet and consists of 161 units. The transaction involved a construction loan.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $55,500,000
- Address: 159 Boerum Street
- Market: Bushwick
- Square Footage: 90,000
- Number of Units: 161
The loan for this transaction was provided by White Oak Real Estate Capital. The landlord involved in the transaction is Slate Property Group and Avenue Realty Capital, represented by Martin Nussbaum and David Schwartz. The brokerage team from Newmark, including Daniel Fromm, Dustin Stolly, and Jordan Roeschlaub, facilitated the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$55,500,000.00
Monthly NOI$370,000.00
Monthly Debt Service$350,797.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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