Signature Bank Provides $26.5M Refinance Loan For Multifamily Property In Flatbush
2520 Tilden Avenue, Brooklyn, New York 11226, United States
$26,500,000
$306/SF
Building Size
86,360 SF
Asset Type
MultiFamily
Closing
Apr 14, 2022
AI
A multifamily property located at 2520 Tilden Ave in the Flatbush market has recently undergone a refinancing transaction. The property spans approximately 86,360 square feet and is part of a multifamily asset.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $26,500,000
- Date: 04/15/2022
- Lender: Signature Bank
- Brokers: Scott Assouline, Isaac Lifshitz & Kyle Raffo - Meridian Capital Group
The refinancing loan, provided by Signature Bank, amounts to $26,500,000. The loan has a fixed interest rate of 3.25% for a duration of 5 years.
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
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93