Joel Landau Secures $155 Million Refinance Loan From Valley National Bank For Multifamily Asset In Brooklyn
FINANCED
$155,000,000
New York
See Similar DealsMultiFamily410,000 SF
Financed 09/27/2024
FINANCED
Joel Landau Secures $155 Million Refinance Loan From Valley National Bank For Multifamily Asset In Brooklyn
270 Nostrand Avenue
See Similar DealsMultiFamily410,000 SF
Financed 09/27/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$378
Total Square Footage:410,000 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 270 Nostrand Avenue, Brooklyn. The asset encompasses a total square footage of 410,000 and comprises 320 residential units, with the transaction related to a refinance loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $155,000,000
- Loan Type: Refinance
- Lender: Valley National Bank
- Landlord: Joel Landau
- Brokers: Leah Paskus, Pinchas Vogel & Ernest Lefkowitz - Landstone Capital Group
- Loan Date: 09/27/2024
This transaction highlights the involvement of Valley National Bank as the lender and Joel Landau as the landlord. It was facilitated by the brokerage team consisting of Leah Paskus, Pinchas Vogel, and Ernest Lefkowitz from Landstone Capital Group.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Lenders
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Top Markets for Multifamily Investment ReportFall 2025
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$155,000,000.00
Monthly NOI$1,033,333.33
Monthly Debt Service$979,705.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
Is there something missing? Send suggestions