Meridian Capital Group Secures $110M Loan For Mixed-Use Property In Downtown Brooklyn
FINANCED
$110,000,000
New York
See Similar DealsMultiFamily326,609 SF
Financed
FINANCED
Meridian Capital Group Secures $110M Loan For Mixed-Use Property In Downtown Brooklyn
257 Gold Street
See Similar DealsMultiFamily326,609 SF
Financed
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$336
Total Square Footage:326609 SF
Transaction Type:Loan
Located at 257 Gold St. in Downtown Brooklyn, the Brooklyn Gold property recently underwent a closed transaction. This mixed-use asset encompasses various types of properties, offering a diverse range of opportunities for residents and businesses alike. The deal, which took place on May 26, 2021, was facilitated by Meridian Capital Group.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $110,000,000
- Loan Terms: 10-Year Term, Low 3.00% Range
- Address: 257 Gold St. (Brooklyn Gold)
- Market: Downtown Brooklyn
The transaction was handled by Abe Hirsch, Charles Grussgott, and Michael Helmreich from Meridian Capital Group. They represented the buyer and seller, ensuring a smooth and successful deal. The loan amount for this transaction reached a significant $110,000,000, with favorable terms of a 10-year term and a low 3.00% interest rate.
Players
LENDER
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$110,000,000.00
Monthly NOI$733,333.33
Monthly Debt Service$695,274.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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