Signature Bank Provides $47M Refinance Loan For Multifamily Property In Williamsburg
321 Wythe Avenue, Brooklyn, New York 11249, United States
$47,000,000
$277/SF
Building Size
169,319 SF
Asset Type
MultiFamily
Closing
Jul 6, 2022
AI
The multifamily property located at 321 Wythe Avenue in Williamsburg has recently undergone a refinancing transaction. The property spans across 169,319 square feet and consists of 130 units. The loan, facilitated by Signature Bank, was obtained by the landlord, Wolfe Landau, for an amount of $47,000,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $47,000,000
- Address: 321 Wythe Avenue
- Market: Williamsburg
- Square Footage: 169,319
- Units: 130
The loan provided by Signature Bank was used to refinance the property at 321 Wythe Avenue in Williamsburg. This transaction highlights the successful collaboration between the landlord, Wolfe Landau, and the lender, Signature Bank.
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
0.34%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93