Updated Oct 29, 2024
Metlife Provides $45M Loan For 126-Unit Multi Family Property In Brooklyn
33 Caton Place, Brooklyn, NY 11218
$75,000,000
$621/SF
Building Size
120,689 SF
Asset Type
MultiFamily
Closing
Oct 28, 2018
About this deal
AI
The multi-family property located at 33 Caton Place in Brooklyn has recently undergone a financial transaction. The property comprises 126 units and is owned by The Dermot Company. The loan for this transaction was provided by Metlife, amounting to $45,000,000.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $45,000,000
- Address: 33 Caton Place, Brooklyn
- Market: Brooklyn
- Units: 126
- Lender: Metlife
- Landlord: The Dermot Company
The deal was facilitated by several brokers, including David Krantz and Paul Leibowitz from Savills Studley who arranged the equity and co-brokered the debt. They were joined by Steven Klein and Geoff Goldstein from HFF. Representing the seller were Andrew Scandalios, Jeffrey Julien, and Rob Hinckley, also from HFF.
On the Map
$75,000,000
$621/SF
MultiFamily
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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
0.21%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93