Updated Dec 21, 2023
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
About this deal
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:
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Market: Long Island
- Lender: PCCP Capital
- Brokers: Jonathan Schwartz, Adam Schwartz, Aaron Appel, and Keith Kurland - Walker & Dunlop
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
Greenport MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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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