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Trinity Place Holdings Secures $60M Loan For Multifamily Property In Park Slope

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FINANCED
$60,000,000

New York

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MultiFamily92,722 SF
Financed 06/10/2020
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FINANCED

Trinity Place Holdings Secures $60M Loan For Multifamily Property In Park Slope

237 11th Street, Brooklyn, NY 11215

See Similar Deals
MultiFamily92,722 SF
Financed 06/10/2020
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$647
Total Square Footage:92,722 SF
Transaction Type:Loan

A multifamily property located at 237 11th Street in Park Slope has recently been involved in a closed transaction. The property, owned by Trinity Place Holdings, was the subject of a loan deal secured from natixis''>Natixis. The loan amount for this transaction was $60,000,000, and it featured a 24-month, full-term interest-only floating rate loan with three one-year extension options. The property's market value and additional characteristics were not provided in the available information.

Summary of transaction details

In this transaction, the loan deal was facilitated by Natixis, while Trinity Place Holdings served as the landlord for the property located at 237 11th Street in Park Slope. The brokers involved in the deal were Drew Anderman, David Bollag, and Alan Blank from the Meridian Capital Group. Additional details regarding the property's size, market value, and specific terms of the loan were not provided in the available information.

Players

Alan Blank
13 deals$1.3B volume(212) 612-0117
BROKER

David Bollag
Meridian Capital Group
29 deals$928.7M volume
BROKER

Drew Anderman
CBRE
39 deals$5.2B volume
BROKER

Natixis
LENDER

Details

FINANCED
IMAGE: Alan Blank, Drew Anderman & David Bollag DATE: 06/10/2021 ADDRESS: 237 11th Street MARKET: Park Slope ASSET TYPE: Multifamily LENDER: Natixis LANDLORD: Trinity Place Holdings BROKERS: Drew Anderman, David Bollag & Alan Blank - Meridian Capital Group LOAN AMOUNT: $60,000,000 LOAN TERM: 24-month, full-term IO, floating rate loan with three one-year extension options

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$60,000,000.00

Monthly NOI$400,000.00
Monthly Debt Service$379,240.81
Change in Cash Flow$0.00
Refinance Proceeds$0.00