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Michael Niamonitakis Of Meridian Properties Secures $17M Refinance Loan From Berkadia In Flatbush Brooklyn
FINANCED
$17,000,000
New York
See Similar DealsMultiFamily
Financed 04/30/2025
FINANCED
Michael Niamonitakis Of Meridian Properties Secures $17M Refinance Loan From Berkadia In Flatbush Brooklyn
222 East 17th Street & 200 East 17th Street
See Similar DealsMultiFamily
Financed 04/30/2025
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 222 East 17th Street and 200 East 17th Street in the Flatbush market of Brooklyn. This property consists of two elevator residential buildings with a total of 136 units, reflecting its significance in the local rental market.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Lender: Berkadia Commercial Mortgage
- Landlord: Michael Niamonitakis - Meridian Properties
- Loan Type: Refinance
- Date: 04/30/2025
In this refinancing deal, Meridian Properties, under the leadership of Michael Niamonitakis, successfully secured a $17 million loan from Berkadia Commercial Mortgage aimed at facilitating financial restructuring for the two multifamily buildings in Brooklyn.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$17,000,000.00
Monthly NOI$113,333.33
Monthly Debt Service$107,451.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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