Updated Nov 28, 2024
Hines Realty Income Fund Provides $37.3M Loan For Multifamily Property On Wythe Avenue In Williamsburg
390 Wythe Avenue, Brooklyn, NY 11249, USA
$37,300,000
$684/SF
Building Size
54,528 SF
Asset Type
MultiFamily
Closing
Jul 13, 2021
About this deal
AI
The multifamily property located at 390 Wythe Avenue in Williamsburg has recently been involved in a loan transaction. The loan was provided by Hines Realty Income Fund to Caro Enterprises, the landlord of the property. The loan amount was $37,300,000. The property has a total square footage of 54,528 and consists of 69 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $37,300,000
- Address: 390 Wythe Avenue
- Market: Williamsburg
- Landlord: Caro Enterprises
- Lender: Hines Realty Income Fund
- Square Footage: 54,528
- Units: 69
The loan transaction was facilitated by Hines Realty Income Fund, a reputable lender in the real estate industry. Caro Enterprises, the landlord of the property, sought financial assistance for their multifamily asset located in Williamsburg. This loan transaction provided the necessary funds for the property's ongoing operations and potential future improvements.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Hines to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.43%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93