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David Bistricer Of Clipper Equity Secures $20M Loan From Valley National Bank For Flatbush Multifamily
FINANCED
$20,000,000
New York
See Similar DealsMultiFamily239,709 SF
Financed 11/07/2025
FINANCED
David Bistricer Of Clipper Equity Secures $20M Loan From Valley National Bank For Flatbush Multifamily
2201 Beverley Road
See Similar DealsMultiFamily239,709 SF
Financed 11/07/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$83
Total Square Footage:239,709 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily residential property located at 2201 Beverley Road, Flatbush, Brooklyn. The total square footage of the building is 239,709, and it consists of 296 residential units. The property is part of the financial arrangement involving a loan amounting to $20,000,000, which is in addition to an existing loan of $105,000,000 from Valley National Bank, bringing the total financing to $125,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Address: 2201 Beverley Road
- Market: Flatbush, Brooklyn
- Square Footage: 239,709
- Lender: Valley National Bank
- Landlord: David Bistricer - Clipper Equity
The key individuals involved in this transaction include David Bistricer, who represents Clipper Equity in this deal. The financial backing for the property is being provided by Valley National Bank, which plays a significant role in the funding of this multifamily development.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$20,000,000.00
Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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