Settlement Housing Fund Secures $63.1M Construction Loan For Crown Heights Multifamily
1604 Saint Johns Place, Brooklyn, New York 11233, United States
$63,100,000
$448/SF
Building Size
140,560 SF
Asset Type
MultiFamily
Closing
Jul 20, 2022
AI
The property involved in this transaction is a multifamily asset located at 1604, 1620, and 1630 St Johns Place in Crown Heights. It has a total square footage of 140,560 and consists of 100 units. The transaction took place on 07/21/2022.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $63,100,000
- Lender: UMB Bank
- Landlord: Settlement Housing Fund
- Loan Type: Construction
The lender involved in this deal was UMB Bank. They provided a loan amount of $63,100,000 for the construction of the property. The landlord in this transaction was Settlement Housing Fund.
Players
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
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93