Updated Sep 5, 2024
Societe Generale Provides $45.2M Refinance Loan For Multifamily Property In Brooklyn
26 Quincy Street, Brooklyn, NY, USA
$45,200,000
$75,083/SF
Building Size
602 SF
Asset Type
MultiFamily
Closing
Oct 28, 2021
About this deal
AI
An undisclosed multifamily property located at 445 Vanderbilt Ave. and 26 Quincy Street in the Brooklyn market has secured a refinancing loan. The loan, arranged by Societe Generale, amounts to $45,200,000.
Summary of Transaction Details:
- Property Type: Multifamily
- Loan Amount: $45,200,000
- Address: 445 Vanderbilt Ave. & 26 Quincy Street
- Market: Brooklyn
The landlord of the property is Allan Lebovits, who represents Meral Property Group. Additionally, Moishe Loketch and Pinny Loketch of The Loketch Group are also landlords involved in the deal. The brokers for this transaction are Morris Betesh and Jack McPhail, associated with Meridian Capital Group.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.35%
Cash-on-Cash
-0.10%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93