Bank Hapoalim Provides $25M Construction Loan For Multifamily Property In Brooklyn
FINANCED
$25,000,000
+ 2
New York
See Similar DealsMultiFamily8,671 SF
Financed 11/16/2021
FINANCED
Bank Hapoalim Provides $25M Construction Loan For Multifamily Property In Brooklyn
219 Jay Street, Brooklyn, NY 11201
See Similar DealsMultiFamily8,671 SF
Financed 11/16/2021
+ 2
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,883
Total Square Footage:8,671 SF
Transaction Type:Loan
An multifamily property located at 219 Jay Street in Brooklyn was involved in a recent transaction. The property, owned by Sam Alison-Mayne and Sebastian Mendez of Tankhouse, was the subject of a construction loan provided by Bank Hapoalim. The loan amount was $25,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $25,000,000
- Address: 219 Jay Street, Brooklyn
- Market: Brooklyn
The transaction was facilitated by brokers Adam Hakim, James Murad, and David Baker from Meridian Capital Group, who represented both the landlords, Sam Alison-Mayne and Sebastian Mendez, and the lender, Bank Hapoalim.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$25,000,000.00
Monthly NOI$166,666.67
Monthly Debt Service$158,017.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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