Rigas Family Secures $50 Million Refinance Loan From Jake Soodek For Multifamily Asset In Brooklyn
FINANCED
$50,000,000
New York
See Similar DealsMultiFamily
Financed
FINANCED
Rigas Family Secures $50 Million Refinance Loan From Jake Soodek For Multifamily Asset In Brooklyn
263 Prospect Avenue
See Similar DealsMultiFamily
Financed
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
263 Prospect Avenue, located in Brooklyn, is a multifamily property consisting of 144 units. The refinancing loan associated with this asset amounts to $50,000,000. The loan is further secured by seven industrial buildings situated throughout Sunset Park, Brooklyn.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $50,000,000
- Lender: Jake Soodek - Hirshmark Capital
- Landlord: Rigas Family
- Landlord's Representative: Gregory Vassilakos
- Loan Type: Refinance
The refinance transaction involves key individuals, including Jake Soodek representing the lending side and Gregory Vassilakos acting on behalf of the Rigas Family as the landlord’s representative, facilitating the loan process and securing the necessary financing.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$50,000,000.00
Monthly NOI$333,333.33
Monthly Debt Service$316,034.01
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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