Updated Jul 29, 2026
Bank Of Montreal Provides $8,000,000 Refinance Loan For MultiFamily Property In Brooklyn
16 Howard Avenue
$8,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 20, 2026
About this deal
AI
This property is a MultiFamily asset located at 16 Howard Avenue in the Brooklyn market. The loan amount for this transaction is $8,000,000, which is designated for refinancing purposes. The financial institution involved in this loan is the Bank of Montreal.
Summary of transation details:
- Property Type: MultiFamily
- Transaction Amount: $8,000,000
- Loan Type: Refinance
- Lender: Bank of Montreal
- Brokers: David Bollag & James Darling - Meridian Capital Group
- Date of Transaction: 07/24/2026
- Address: 16 Howard Avenue
- Market: Brooklyn
David Bollag and James Darling from Meridian Capital Group represented the borrower in this loan transaction. Their involvement highlights the professional services facilitating the refinancing process for this MultiFamily property.
On the Map
$8,000,000
MultiFamily
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Players
Brooklyn 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
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93