Updated Mar 17, 2025
Moinian Group Secures $59.1M Loan For Multifamily Property At 1428 Fulton St., Bedford Stuyvesant
1428 Fulton Street, Bedford-Stuyvesant, Brooklyn, NY, USA
$59,100,000
$11,721/SF
Building Size
5,042 SF
Asset Type
MultiFamily
Closing
Mar 30, 2021
About this deal
AI
The multifamily property located at 1428 Fulton Street in Bedford Stuyvesant has recently undergone a closed transaction. The property consists of 132 units and is owned by the Moinian Group. The transaction took place on March 31, 2021, with a loan amount of $59,100,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $59,100,000
- Address: 1428 Fulton Street
- Market: Bedford Stuyvesant
- Units: 132
- Landlord: Moinian Group
Mitchell Moinian and Joseph Moinian are prominently involved in this transaction as representatives of the Moinian Group. Their expertise and negotiation skills played a key role in the successful completion of this deal. The loan amount of $59,100,000 highlights the magnitude and significance of this transaction.
Players
New York 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
0.27%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93