Updated Dec 2, 2024
Lalezarian Properties Obtains $110M Loan For Multifamily Property In Downtown Brooklyn
257 Gold Street
$110,000,000
$336/SF
Building Size
326,609 SF
Asset Type
MultiFamily
Closing
May 18, 2021
About this deal
AI
A multifamily property located at 257 Gold Street in Downtown Brooklyn has recently been involved in a closed transaction. The property, owned by Lalezarian Properties, consists of 375 units and has been the subject of a loan.
Summary of transaction details
- Property Type: Multifamily
- Loan Amount: $110,000,000
- Units: 375
- Lender: New York Community Bank
- Landlord: Lalezarian Properties
New York Community Bank provided a loan of $110,000,000 for the acquisition or refinancing of the multifamily property at 257 Gold Street. The loan amount reflects the size and value of the property, which consists of 375 residential units. Lalezarian Properties, the landlord, facilitated the transaction.
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
0.14%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93