Square Mile Capital Management Provides $145M Refinance Loan For Downtown Brooklyn Multifamily
FINANCED
New York
See Similar DealsMultiFamily194,089 SF
Financed 05/24/2020
FINANCED
Square Mile Capital Management Provides $145M Refinance Loan For Downtown Brooklyn Multifamily
260 Gold Street
See Similar DealsMultiFamily194,089 SF
Financed 05/24/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$747
Total Square Footage:194,089 SF
Transaction Type:Loan
260 Gold Street, a multifamily property located in Downtown Brooklyn, was recently involved in a loan transaction. The property spans approximately 194,089 square feet and consists of 286 units. The loan, which took place on May 24, 2021, was a refinance.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $145,000,000
- Address: 260 Gold Street
- Market: Downtown Brooklyn
- Square Footage: 194,089
- Units: 286
In this loan transaction, Square Mile Capital Management served as the lender. The landlord of 260 Gold Street is Bruman Realty, represented by Joseph Brunner and Abe Mandel. Galaxy Capital Group, specifically Henry Bodek, assisted in the deal as the broker.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$145,000,000.00
Monthly NOI$966,666.67
Monthly Debt Service$916,498.63
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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