Valley National Bank Refinances Multifamily Property On Ocean Avenue For $21.9M
FINANCED
$21,937,000
New York
See Similar DealsMultiFamily52,558 SF
Financed 08/24/2022
FINANCED
Valley National Bank Refinances Multifamily Property On Ocean Avenue For $21.9M
2633 Ocean Avenue, Brooklyn, New York 11229, United States
See Similar DealsMultiFamily52,558 SF
Financed 08/24/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$417
Total Square Footage:52,558 SF
Transaction Type:Loan
Rybak Development and Natalia Sorkin, represented by Sergey Rybak, have refinanced their multifamily property located at 2633 Ocean Avenue in the Sheepshead Bay market. The property spans 52,558 square feet and consists of 60 units. The loan, provided by Valley National Bank and Declan Meagher, amounts to $21,937,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $21,937,000
- Address: 2633 Ocean Avenue
- Market: Sheepshead Bay
- Square Footage: 52,558
- Units: 60
- Landlord: Rybak Development & Natalia Sorkin - Sergey Rybak
- Lender: Valley National Bank - Declan Meagher
This refinancing deal was facilitated by Declan Meagher from Valley National Bank, providing financial support for Rybak Development and Natalia Sorkin's property at 2633 Ocean Avenue. Sergey Rybak represents Rybak Development and Natalia Sorkin in this transaction.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$21,937,000.00
Monthly NOI$146,246.67
Monthly Debt Service$138,656.76
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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