Updated Oct 29, 2024
Aurora Capital Associates & Midtown Equities Refinance Brooklyn Heights Multifamily Building With $66M Loan
200 Montague St Brooklyn, Ny 11201, Usa
$66,000,000
Units
121
Asset Type
MultiFamily
Closing
Jun 2, 2023
About this deal
AI
Aurora Capital Associates and Midtown Equities have secured a $66 million refinance loan from Webster Bank, National Association for the residential elevator building located at 200 Montague Street in Brooklyn Heights. The property is a multifamily building with 121 units. The loan will help the landlords, Robert Cayre and his company, to refinance the existing debt on the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $66,000,000
- Number of Units: 121
- Lender: Webster Bank - Adam Brenner
- Landlord: Aurora Capital Associates & Midtown Equities - Robert Cayre
- Loan Type: Refinance
The loan was facilitated by Adam Brenner from Webster Bank. Webster Bank, National Association acted as the lender in this transaction, providing financial support to Aurora Capital Associates and Midtown Equities for their property at 200 Montague Street. The loan will help the landlords to manage their existing debt and continue operating the multifamily building in Brooklyn Heights.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93