Bruman Realty Secures $65.9M Construction Loan For Astoria Multifamily Property
FINANCED
New York
See Similar DealsMultiFamily30,721 SF
Financed 09/23/2021
FINANCED
Bruman Realty Secures $65.9M Construction Loan For Astoria Multifamily Property
26-25 4th Street, Astoria, NY 11102, USA
See Similar DealsMultiFamily30,721 SF
Financed 09/23/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,145
Total Square Footage:30,721 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 26-25 4th Street in Astoria. It consists of 165 units and is owned by Bruman Realty, represented by Joseph Brunner and Abe Mandel. The loan for this transaction was provided by SCALE Lending in the form of a construction loan with an amount of $65,900,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $65,900,000
- Address: 26-25 4th Street, Astoria
- Market: Astoria
- Units: 165
- Lender: SCALE Lending
- Landlord: Bruman Realty - Joseph Brunner & Abe Mandel
Martin Nussbaum and David Schwartz were involved in this transaction as indicated by the provided image. They may represent either the buyer, seller, landlord, or tenant in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$65,900,000.00
Monthly NOI$439,333.33
Monthly Debt Service$416,532.83
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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