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Metlife Provides $45M Loan For 126-Unit Multi Family Property In Brooklyn

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FINANCED
$75,000,000
David Kern
Steven (Steve) Klein
Paul Leibowitz
+ 4

New York

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MultiFamily120,689 SF
Financed
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FINANCED

Metlife Provides $45M Loan For 126-Unit Multi Family Property In Brooklyn

33 Caton Place, Brooklyn, NY 11218

See Similar Deals
MultiFamily120,689 SF
Financed
David Kern
Steven (Steve) Klein
Paul Leibowitz
+ 4
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$621
Total Square Footage:120689 SF
Transaction Type:Loan

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.

Players

Andrew Scandalios
JLL
Andrew Scandalios
64 deals$11.3B volume(212) 632-1821
BROKER
David Krantz
David Krantz
6 deals$419.8M volume
BROKER
Geoff Goldstein
JLL
Geoff Goldstein
54 deals$7.9B volume
BROKER
Paul Leibowitz
Savills
Paul Leibowitz
5 deals$371.8M volume
BROKER
Rob Hinckley
JLL
Rob Hinckley
76 deals$11.1B volume
BROKER
Steven (Steve) Klein
JLL
Steven Klein
52 deals$3.9B volume(212) 632-1838
BROKER
David Kern
Marcus & Millichap
David Kern
4 deals$92M volume
BROKER
TC
The Dermot Company
LANDLORD

Details

FINANCED
IMAGE: Paul Leibowitz, Geoff Goldstein, David Krantz , & Steven Klein DATE: 10/29/2018 ADDRESS: 33 Caton Place MARKET: Brooklyn ASSET TYPE: Multi Family UNITS: 126 LENDER: Metlife LANDLORD: The Dermot Company BROKERS: Savills Studley’s David Krantz and Paul Leibowitz arranged the equity and co-brokered the debt alongside HFF’s Steven Klein and Geoff Goldstein. HFF’s Andrew Scandalios, Jeffrey Julien and Rob Hinckley represented the seller. LOAN AMOUNT: $45,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$75,000,000.00

Monthly NOI$500,000.00
Monthly Debt Service$474,051.02
Change in Cash Flow$0.00
Refinance Proceeds$0.00