Lalezarian Properties Obtains $110M Loan For Multifamily Property In Downtown Brooklyn
FINANCED
$110,000,000
New York
See Similar DealsMultiFamily326,609 SF
Financed 05/18/2021
FINANCED
Lalezarian Properties Obtains $110M Loan For Multifamily Property In Downtown Brooklyn
257 Gold Street
See Similar DealsMultiFamily326,609 SF
Financed 05/18/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$336
Total Square Footage:326,609 SF
Transaction Type:Loan
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.
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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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