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Lloyd Properties Secures $1.475M Preferred Equity Loan For 23-Unit Multifamily In Brooklyn

Property Image
FINANCED
$1,475,000

New York

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MultiFamily22,000 SF
Financed 02/21/2025
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Property Image
FINANCED

Lloyd Properties Secures $1.475M Preferred Equity Loan For 23-Unit Multifamily In Brooklyn

177 Concord Street

See Similar Deals
MultiFamily22,000 SF
Financed 02/21/2025
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$67
Total Square Footage:22,000 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily property located at 177 Concord Street in Brooklyn. It encompasses a total square footage of 22,000 and includes 23 units. The loan amount secured for this property is $1,475,000, categorized under preferred equity.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $1,475,000
  • Square Footage: 22,000
  • Units: 23
  • Address: 177 Concord Street
  • Market: Brooklyn
  • Lender: HudsonPoint Group
  • Lender Representatives: Jason Schottenfeld, Matthew Pazzaglini, Matt Sherr
  • Landlord: Lloyd Properties
  • Landlord Representative: David Lloyd
  • Loan Type: Preferred equity

The deal involves key individuals and firms such as HudsonPoint Group, represented by Jason Schottenfeld, Matthew Pazzaglini, and Matt Sherr, indicating their role in providing the financing for this transaction. Lloyd Properties, represented by David Lloyd, is the landlord associated with the multifamily property.

Players

LENDER

Details

FINANCED
IMAGE: David Lloyd, Jason Schottenfeld, Matthew Pazzaglini & Matt Sherr DATE: 02/21/2025 ADDRESS: 177 Concord Street MARKET: Brooklyn ASSET TYPE: Multifamily ~ SF: 22,000 ~ UNITS: 23 LENDER: HudsonPoint Group - Jason Schottenfeld (@JSchottenfeld), Matthew Pazzaglini (@MattPazzaglini) & Matt Sherr (@MattSherr) LANDLORD: Lloyd Properties (@LloydProperties) - David Lloyd (@DavidTLloyd) LOAN AMOUNT: $1,475,000 LOAN TYPE: Preferred equity NOTE FROM LENDER: HudsonPoint continues to seek opportunities to deploy Co-GP Equity, LP Equity, Senior Bridge Financing, B-Piece Financing, Mezzanine Financing, and Preferred Equity. Please contact [email protected].

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,475,000.00

Monthly NOI$9,833.33
Monthly Debt Service$9,323.00
Change in Cash Flow$0.00
Refinance Proceeds$0.00