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350 Clarkson Avenue

Updated Dec 4, 2024

The Hudson Companies Secures $72.5M Refinance Loan For Multifamily Property In Flatbush, Brooklyn
FINANCEDMultiFamily

The Hudson Companies Secures $72.5M Refinance Loan For Multifamily Property In Flatbush, Brooklyn

350 Clarkson Avenue

$72,500,000

$322/SF

Building Size

225,000 SF

Asset Type

MultiFamily

Closing

Sep 29, 2023

About this deal

AI

A multifamily property located at 350 Clarkson Avenue in Flatbush, Brooklyn, has undergone a refinance transaction. The property spans 225,000 square feet and consists of 250 units. The transaction was facilitated by Brian Warwick, a broker from ABS Altman Warwick. The landlord of the property is The Hudson Companies.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $72,500,000
  • Lender: Athene Annuity and Life Assurance Company - Apollo Global Management
  • Broker: Brian Warwick - ABS Altman Warwick

Athene Annuity and Life Assurance Company, in collaboration with Apollo Global Management, provided the loan amount of $72,500,000 for the refinancing of this multifamily property. The transaction was facilitated by Brian Warwick, who represents ABS Altman Warwick. The refinance deal allows the property owner, The Hudson Companies, to secure favorable loan terms and potentially improve cash flow.

On the Map

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$72,500,000

$322/SF

MultiFamily

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Players

Brian Warwick

ABS Altman Warwick

Broker

$506M

vol

10 deals

Broker
Apollo Bank
Apollo BankLender
Athene
AtheneLender
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Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $322 per square foot on a published $72.5M for 225,000 square feet (2023).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.22%

Cash-on-Cash

-0.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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