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Shlomo Karpen Secures $14.5 Million Refinance For Multifamily Building In Greenwood Heights
FINANCED
$14,500,000
New York
See Similar DealsMultiFamily40,000 SF
Financed
FINANCED
Shlomo Karpen Secures $14.5 Million Refinance For Multifamily Building In Greenwood Heights
255 18th Street
See Similar DealsMultiFamily40,000 SF
Financed
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$362
Total Square Footage:40000 SF
Transaction Type:Loan
A multifamily asset located at 255 18th Street in Greenwood Heights, Brooklyn, consists of 36 residential units and has a total square footage of 40,000. The property has undergone refinancing, securing a substantial loan amounting to $14,500,000 through Valley National Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $14,500,000
- Address: 255 18th Street
- Market: Greenwood Heights, Brooklyn
- Units: 36
- Square Footage: 40,000
- Lender: Valley National Bank
- Landlord: Shlomo Karpen
- Loan Type: Refinance
Shlomo Karpen, representing Eighteen Properties LLC, has successfully secured the refinancing for the property through Valley National Bank, enhancing the financial structure of the multifamily building while maintaining ownership of the asset.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,500,000.00
Monthly NOI$96,666.67
Monthly Debt Service$91,649.86
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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