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Eliot Arazi Refinances Multifamily Property With $850K Loan From Cross River Bank

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FINANCED
$850,000

New York

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MultiFamily2,724 SF
Financed 03/15/2024
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FINANCED

Eliot Arazi Refinances Multifamily Property With $850K Loan From Cross River Bank

428 Van Brunt Street

See Similar Deals
MultiFamily2,724 SF
Financed 03/15/2024
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$312
Total Square Footage:2,724 SF
Transaction Type:Loan

The multifamily property located at 428 Van Brunt Street in Red Hook, Brooklyn, spans 2,724 square feet. The property was refinanced for an amount of $850,000, with Cross River Bank providing the loan. The landlord of the property is Eliot Arazi, and the broker involved in the deal was Morris Dweck from KSR.

Summary of transaction details:

Morris Dweck from KSR represented the landlord, Eliot Arazi, in the refinancing transaction. The property's location in the Red Hook neighborhood of Brooklyn adds to its appeal, making it a valuable asset in the market.

Players

Morris Dweck
32 deals$382.3M volume(929) 353-1754
BROKER

Cross River Bank
LENDER

Details

FINANCED
IMAGE: Morris Dweck DATE: 03/15/2024 ADDRESS: 428 Van Brunt Street MARKET: Red Hook, Brooklyn ASSET TYPE: Multifamily ~ SF: 2,724 LENDER: Cross River Bank (@CrossRiver_) LANDLORD: Eliot Arazi BROKER: Morris Dweck (@Morris__Dweck) - KSR (@Kassin_Sabbagh_Realty) LOAN AMOUNT: $850,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$850,000.00

Monthly NOI$5,666.67
Monthly Debt Service$5,372.58
Change in Cash Flow$0.00
Refinance Proceeds$0.00