Fine Times Secures $50M CMBS Loan For Multifamily Portfolio In Manhattan And Brooklyn
FINANCED
$50,000,000
New York
See Similar DealsMultiFamily
Financed 05/28/2020
FINANCED
Fine Times Secures $50M CMBS Loan For Multifamily Portfolio In Manhattan And Brooklyn
17 W 68th St, Manhattan, New York, NY, USA
See Similar DealsMultiFamily
Financed 05/28/2020
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The multifamily properties located at 17, 19, 21 & 23 West 68th St., 44 & 46 West 69th St., 46 West 70th St., 30, 32, & 219 West 71st St., 53 West 73rd St., 12 West 76th St., 196, 198 & 150 Columbia Heights, 9 Montague St., 6 & 82 Pierrepont St., and 99 Joralemon St. have been involved in a recent loan transaction. The properties are situated in Manhattan and Brooklyn.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Lender: Citi - Eric Mirvis & Joe Dyckman
- Landlord: Fine Times
- Brokers: Shamir Seidman & Daniel Neiss - Meridian Capital Group
The loan, in the amount of $50,000,000, was provided by Citi, with Eric Mirvis and Joe Dyckman representing the lender. The landlord involved in this transaction is Fine Times. The brokers who facilitated the deal were Shamir Seidman and Daniel Neiss of Meridian Capital Group.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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