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Aurora Capital Associates & Midtown Equities Refinance Brooklyn Heights Multifamily Building With $66M Loan
FINANCED
$66,000,000
New York
See Similar DealsMultiFamily
Financed 06/02/2023
FINANCED
Aurora Capital Associates & Midtown Equities Refinance Brooklyn Heights Multifamily Building With $66M Loan
200 Montague St Brooklyn, Ny 11201, Usa
See Similar DealsMultiFamily
Financed 06/02/2023
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$66,000,000.00
Monthly NOI$440,000.00
Monthly Debt Service$417,164.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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