Updated May 12, 2025
Saba Vahdat Secures $19 Million Refinance From Metropolitan Commercial Bank For Multifamily Asset In Brooklyn
1630 1650 Dean Street
$19,000,000
$316/SF
Building Size
60,000 SF
Asset Type
MultiFamily
Closing
Apr 23, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 1630-1650 Dean Street in Brooklyn. The property consists of 60,000 square feet and comprises 91 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $19,000,000
- Loan Type: Refinance
- Lender: Metropolitan Commercial Bank
- Landlord: Saba Vahdat
This transaction reflects the engagement of Saba Vahdat as the landlord, with Metropolitan Commercial Bank serving as the lender for the refinance loan facilitating this property deal. The details illustrate the collaboration between individuals and entities directly involved in the financing of the multifamily asset.
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
0.83%
Cash-on-Cash
-0.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93