Updated Oct 28, 2024
Brooklyn Standard Properties Refinances Multifamily Portfolio In Bronx For $21.3M
2460 Belmont Avenue, The Bronx, New York 10458, United States
$21,300,000
$210/SF
Building Size
101,000 SF
Asset Type
MultiFamily
Closing
May 16, 2022
About this deal
AI
The recent closed transaction in the Bronx involves a multifamily property located at 2460, 2462, 2464, 2466 & 2468 Belmont Ave., 2463 & 2481 Hughes Ave., 2464 Hoffman Street & 2490 Belmont. This property spans over approximately 101,000 square feet and falls under the asset type of Multifamily. The deal was concluded on 05/17/2022 in the Bronx market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,300,000
- Lender: greystone''>Greystone
- Landlord: Brooklyn Standard Properties - David Manheimer
- Brokers: Morris Betesh & Jack McPhail - Meridian Capital Group
The loan for this transaction was a refinance, with a loan amount of $21,300,000. The lender involved in the deal was Greystone. The property was owned by Brooklyn Standard Properties, with David Manheimer acting as the landlord. The brokers representing the deal were Morris Betesh and Jack McPhail from the Meridian Capital Group.
On the Map
$21,300,000
$210/SF
MultiFamily
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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
0.74%
Cash-on-Cash
-0.21%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93