Updated Oct 28, 2024
Morgan Stanley Bank Provides $21M Loan For Multifamily Property In Flatbush
1694 Church Avenida, East Flatbush, Brooklyn, NY, USA
$21,000,000
$504/SF
Building Size
41,606 SF
Asset Type
MultiFamily
Closing
Oct 21, 2021
About this deal
AI
The property involved in this transaction is a multifamily asset located at 1694 Church Avenue in the Flatbush market. It spans a total square footage of 41,606 and comprises 48 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,000,000
- Address: 1694 Church Avenue
- Market: Flatbush
- Square Footage: 41,606
- Number of Units: 48
Morgan Stanley Bank provided the loan for this transaction, amounting to $21,000,000. The landlord in this deal is Aini Assets.
The multifamily loan at 1694 Church Avenida, East Flatbush, Brooklyn, NY, USA in Brooklyn, New York financed for $21M in 2021. Reported inventory is 41,606 square feet across 48 units, or about 504 per square foot. This page is the Brooklyn, New York file for the 1694 Church Avenida, East Flatbush, Brooklyn, NY, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn multifamily set by closing date to see what else financed near 1694 Church Avenida, East Flatbush, Brooklyn, NY, USA around 2021. Published consideration for 1694 Church Avenida, East Flatbush, Brooklyn, NY, USA is $21M, dated 2021. Cite this Morgan Stanley Bank Provides $21M Loan For Multifamily Property In Flatbush loan when underwriting similar multifamily product around Brooklyn, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93