JLL Arranges $37M Refinance Loan For Co-living Multifamily Property In Williamsburg
FINANCED
$37,000,000
+ 2
New York
See Similar DealsMultiFamily49,446 SF
Financed 04/07/2022
FINANCED
JLL Arranges $37M Refinance Loan For Co-living Multifamily Property In Williamsburg
186 North 6th Street, Brooklyn, New York 11211, United States
See Similar DealsMultiFamily49,446 SF
Financed 04/07/2022
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$748
Total Square Footage:49,446 SF
Transaction Type:Loan
An $37,000,000 loan has been secured for the co-living multifamily property located at 186 N. 6th St. in Williamsburg. The property spans a total of 49,446 square feet.
Summary of transaction details
- Property Type: Co-living Multifamily
- Transaction Amount: $37,000,000
- Address: 186 N. 6th St.
- Market: Williamsburg
- Lender: Valley National Bank - Ann Wilhelm
- Brokers: Eliott Zeitoune, Marko Kazanjian, Max Herzog, Matt Fagella & Andrew Cohen - Jones Lange LaSalle (JLL)
- Loan Type: Refinance
The loan was facilitated by Valley National Bank, with Ann Wilhelm representing the bank. The brokers involved in the transaction were Eliott Zeitoune, Marko Kazanjian, Max Herzog, Matt Fagella, and Andrew Cohen from Jones Lange LaSalle (JLL).
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LENDER
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$37,000,000.00
Monthly NOI$246,666.67
Monthly Debt Service$233,865.17
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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