Emerald Creek Capital Provides $30 Million Refinance Loan For Lay Assets Multifamily In Midwood Brooklyn
FINANCED
$30,000,000
New York
See Similar DealsMultiFamily57,653 SF
Financed 08/26/2024
FINANCED
Emerald Creek Capital Provides $30 Million Refinance Loan For Lay Assets Multifamily In Midwood Brooklyn
1775 Coney Island Avenue
See Similar DealsMultiFamily57,653 SF
Financed 08/26/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$520
Total Square Footage:57,653 SF
Transaction Type:Loan
The asset involved in the transaction is a multifamily property located at 1775 Coney Island Avenue in the Midwood Brooklyn market. The asset encompasses a total square footage of 57,653. The loan amount secured for refinancing this property is $30,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Address: 1775 Coney Island Avenue
- Market: Midwood Brooklyn
- Lender: Emerald Creek Capital
- Landlord: Lay Assets
- Broker: Dovid Ostrov - Meridian Capital Group
- Loan Type: Refinance
The transaction involves key individuals and firms including Emerald Creek Capital as the lender and Dovid Ostrov from Meridian Capital Group representing the landlord, Lay Assets, in the refinancing deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$30,000,000.00
Monthly NOI$200,000.00
Monthly Debt Service$189,620.41
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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