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Brodsky Organization Secures $415M Refinance Deal With M&T Bank In Prospect Heights
FINANCED
$415,000,000
New York
See Similar DealsMultiFamily
Financed 04/01/2024
FINANCED
Brodsky Organization Secures $415M Refinance Deal With M&T Bank In Prospect Heights
18 6th Avenue
See Similar DealsMultiFamily
Financed 04/01/2024
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The residential portion of the Prospect Heights project at 18 Sixth Avenue, located in Prospect Heights, Brooklyn, secured a $415 million refinancing deal. The loan was provided by M&T Bank for the 51-story residential tower near the Barclays Center.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $415,000,000
- Lender: M&T Bank
- Landlord: Daniel Brodsky - Brodsky Organization
The Brodsky Organization, led by Daniel Brodsky, successfully closed the refinancing deal with M&T Bank for the residential portion of the Prospect Heights project at 18 Sixth Avenue.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$415,000,000.00
Monthly NOI$2,766,666.67
Monthly Debt Service$2,623,082.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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