Kearny Bank Provides $4.5M Construction Loan For Multifamily Property On Clarendon Rd
FINANCED
$4,500,000
New York
See Similar DealsMultiFamily7,985 SF
Financed 08/18/2021
FINANCED
Kearny Bank Provides $4.5M Construction Loan For Multifamily Property On Clarendon Rd
2316 Clarendon Rd, Brooklyn, NY, USA
See Similar DealsMultiFamily7,985 SF
Financed 08/18/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$563
Total Square Footage:7,985 SF
Transaction Type:Loan
A multifamily property located at 2316 Clarendon Rd. in the Flatbush market has been involved in a closed transaction. The property spans approximately 7,985 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Lender: Kearny Bank
- Landlord: Roy Moussaieff
- Broker: Leviathan Capital - Alec Feintuch
The loan for this transaction was provided by Kearny Bank in the form of a construction loan. Roy Moussaieff acted as the landlord in the deal. The broker representing the transaction was Alec Feintuch from Leviathan Capital.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,500,000.00
Monthly NOI$30,000.00
Monthly Debt Service$28,443.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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