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Stellar Management Secures $23M Loan From Customers Bank For Multifamily Building In Park Slope

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FINANCED
$23,000,000

New York

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MultiFamily165,367 SF
Financed 07/15/2025
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Property Image
FINANCED

Stellar Management Secures $23M Loan From Customers Bank For Multifamily Building In Park Slope

341 10th Street New York

See Similar Deals
MultiFamily165,367 SF
Financed 07/15/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$139
Total Square Footage:165,367 SF
Transaction Type:Loan

The asset involved in this transaction is a multifamily residential building located at 341 10th Street in Park Slope, Brooklyn. The property comprises 154 units and has a total square footage of 165,367. Stellar Management secured a loan amount of $23,000,000 for this asset.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $23,000,000
  • Address: 341 10th Street
  • Market: Park Slope, Brooklyn
  • Units: 154
  • Square Footage: 165,367
  • Lender: Customers Bank
  • Landlord: Laurence Gluck - Stellar Management

Laurence Gluck represents Stellar Management in this transaction, facilitating the loan agreement with Customers Bank for their multifamily property acquisition. This deal highlights the involvement of established entities within the lending and management sectors in Brooklyn's real estate market.

Details

FINANCED
IMAGE: Laurence Gluck DATE: 07/15/2025 ADDRESS: 341 10th Street MARKET: Park Slope, Brooklyn ASSET TYPE: Multifamily ~ SF: 165,367 ~ UNITS: 154 LENDER: Customers Bank (@CustomersBank) LANDLORD: Laurence Gluck - Stellar Management (@StellarManagement) LOAN AMOUNT: $23,000,000 NOTE: Stellar Management secured a $23M loan from Customers Bank for its 154-unit residential building at 341 10th Street in Park Slope, Brooklyn.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$23,000,000.00

Monthly NOI$153,333.33
Monthly Debt Service$145,375.65
Change in Cash Flow$0.00
Refinance Proceeds$0.00