Updated Oct 29, 2024
Colony Credit Provides $75M Loan For Multifamily Property In Hunter's Point
21-09 Borden Avenue, Hunters Point, NY, USA
$75,000,000
$2,381/SF
Building Size
31,500 SF
Asset Type
MultiFamily
Closing
Apr 14, 2019
About this deal
AI
The multifamily property at 21-09 Borden Ave in Hunter's Point has recently been involved in a closed transaction. The property is owned by Related Companies and Green Oak Real Estate and is situated in a prime location. The loan for this transaction was provided by Colony Credit, with an amount of $75 million. This substantial loan demonstrates the value and potential of the property.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $75 million
- Address: 21-09 Borden Ave
- Market: Hunter's Point
Jordan Roeschlaub and Dustin Stolly, representing NewmarkKF, acted as the brokers in this deal. Their expertise and negotiation skills played a crucial role in facilitating the transaction between the buyers and sellers. Their involvement further underscores the significance of this deal.
This closed transaction involving the multifamily property at 21-09 Borden Ave in Hunter's Point showcases the collaboration between Related Companies, Green Oak Real Estate, and Colony Credit. The successful completion of this deal highlights the potential for growth and development in the multifamily market.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Dustin Stolly to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93