Updated Oct 28, 2024
PNC Bank Provides $21.1M Loan For Multifamily Property In Flatbush
2415 Church Avenue, Brooklyn, NY, USA
$21,133,000
$392/SF
Building Size
53,877 SF
Asset Type
MultiFamily
Closing
Oct 12, 2021
About this deal
AI
The multifamily property located at 2415 Church Avenue in Flatbush has undergone a loan transaction. The property spans an impressive 53,877 square feet and consists of 68 units. The loan transaction took place on October 13, 2021, with PNC Bank serving as the lender.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,133,000
- Address: 2415 Church Avenue
- Market: Flatbush
- Square Footage: 53,877
- Units: 68
Ed Kalikow & Greg Kalikow of Kaled Management, the landlords of the property, engaged in the loan transaction. They represent their own interests and collectively manage the property.
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
0.75%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93