Brooklyn Standard Properties Refinances Multifamily Portfolio In Bronx For $21.3M
FINANCED
$21,300,000
New York
See Similar DealsMultiFamily101,000 SF
Financed 05/17/2022
FINANCED
Brooklyn Standard Properties Refinances Multifamily Portfolio In Bronx For $21.3M
2460 Belmont Avenue, The Bronx, New York 10458, United States
See Similar DealsMultiFamily101,000 SF
Financed 05/17/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$210
Total Square Footage:101,000 SF
Transaction Type:Loan
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.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,300,000.00
Monthly NOI$142,000.00
Monthly Debt Service$134,630.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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