Signature Bank Provides $94.5M Refinance Loan For Multifamily Property At 409 Eastern Pkwy, Brooklyn
FINANCED
$94,500,000
New York
See Similar DealsMultiFamily197,395 SF
Financed 12/30/2021
FINANCED
Signature Bank Provides $94.5M Refinance Loan For Multifamily Property At 409 Eastern Pkwy, Brooklyn
409 Eastern Parkway, Brooklyn, New York 11213, United States
See Similar DealsMultiFamily197,395 SF
Financed 12/30/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$478
Total Square Footage:197,395 SF
Transaction Type:Loan
A multifamily property located at 409 Eastern Pkwy (AKA 1535 Bedford Ave) in Brooklyn has undergone a refinancing transaction. The property spans approximately 197,395 square feet and is situated in the Brooklyn market.
Summary of transaction details:
- Asset Type: Multifamily
- Loan Amount: $94,500,000
- Loan Type: Refinance
- Loan Terms: 3.125% fixed for 5 years, 2 years I/O
- Lender: Signature Bank
- Brokers: Scott Assouline & Isaac Lifshitz - Meridian Capital Group
The financing for this transaction was provided by Signature Bank. Scott Assouline & Isaac Lifshitz from Meridian Capital Group served as the brokers involved in the deal. The loan amount was $94,500,000, and it was a refinance loan with terms of 3.125% fixed for 5 years, followed by 2 years of interest-only payments.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$94,500,000.00
Monthly NOI$630,000.00
Monthly Debt Service$597,304.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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