Trinity Place Holdings Secures $52.4M Loan For Multifamily Property In Gowanus
237 11th St, Brooklyn, NY 11215, USA
$52,438,750
$56/SF
Building Size
927,610 SF
Asset Type
MultiFamily
Closing
Jun 8, 2020
AI
The multifamily property located at 237 11th Street in Gowanus has recently undergone a closed transaction. The property consists of 105 units and spans an area of 92,761 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $52,438,750
The lender involved in this transaction is the Canadian Imperial Bank of Commerce. The landlord of the property is Trinity Place Holdings, represented by Matthew Messinger.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93