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175 North 3rd Street, Brook...

Acadia Refinances Multifamily Property In Williamsburg For $64.1M
FINANCEDMultiFamily

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

Acadia Realty Trust
Acadia Realty TrustBrokerage
Acadia Realty Trust
Acadia Realty TrustLender

Joel Schreiber

Waterbridge Capital

Landlord

$110.4M

vol

4 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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