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300 Sutton Place, New York,...

Engel Burman Secures $85M Loan For Long Island Multifamily Property
FINANCEDMultiFamily

Engel Burman Secures $85M Loan For Long Island Multifamily Property

300 Sutton Place, New York, NY, USA

$85,000,000

$297/SF

Building Size

286,000 SF

Asset Type

MultiFamily

Closing

Aug 6, 2021

AI

300 Sutton Court, a multifamily property located in Long Island, was involved in a recent loan transaction. The property has a total square footage of 286,000 and is owned by Engel Burman.

Summary of transaction details:

The loan amount for this transaction was $85,000,000. The deal was facilitated by PCCP Capital as the lender, with representation from brokers Jonathan Schwartz, Adam Schwartz, Aaron Appel, and Keith Kurland of Walker & Dunlop.

Players

Aaron Appel

Walker & Dunlop

Broker

$34.5B

vol

203 deals

Broker
HC
Harrison Street Real Estate CapitalLandlord

Greenport MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.19%

Cash-on-Cash

-0.05%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93