Acadia Refinances Multifamily Property In Williamsburg For $64.1M
175 North 3rd Street, Brooklyn, New York 11249, United States
$64,100,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 28, 2022
AI
The multifamily property located at 175 North 3rd Street in Williamsburg was recently involved in a loan transaction. The loan was provided by Acadia, with Ken Bernstein representing the lender. The loan amount was $64,100,000, and it was a refinance loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $64,100,000
- Date: 03/29/2022
- Address: 175 North 3rd Street
- Market: Williamsburg
- Lender: Acadia - Ken Bernstein
- Landlord: Waterbridge Capital - Joel Schreiber
The deal involved Ken Bernstein representing Acadia as the lender in the refinance loan transaction. Waterbridge Capital, represented by Joel Schreiber, was the landlord.
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