Mike Pistilli Of Pistilli Management Secures $3.4 Million Refinance Loan For 255 East 18th Street
FINANCED
$3,400,000
New York
See Similar DealsMultiFamily49,176 SF
Financed 04/22/2025
FINANCED
Mike Pistilli Of Pistilli Management Secures $3.4 Million Refinance Loan For 255 East 18th Street
255 East 18th Street
See Similar DealsMultiFamily49,176 SF
Financed 04/22/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$69
Total Square Footage:49,176 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 255 East 18th Street in Brooklyn. The asset consists of 49,176 square feet and includes 42 units. The loan amount for this refinancing transaction is $3,400,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,400,000
- Address: 255 East 18th Street
- Market: Brooklyn
- Asset Size: 49,176 SF
- Units: 42
- Lender: Sam Ilario & Israel Flexer - Chase
- Landlord: Mike Pistilli - Pistilli Management
- Loan Type: Refinance
The transaction involved key individuals, including Sam Ilario and Israel Flexer representing Chase as lenders, and Mike Pistilli, who is associated with Pistilli Management as the landlord. Their roles were pivotal in facilitating the refinancing of the property.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,400,000.00
Monthly NOI$22,666.67
Monthly Debt Service$21,490.31
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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