Sam Balkany Obtains $12M Refinance Loan For Clinton Hill Multifamily Property
FINANCED
$12,000,000
New York
See Similar DealsMultiFamily35,296 SF
Financed 05/14/2024
FINANCED
Sam Balkany Obtains $12M Refinance Loan For Clinton Hill Multifamily Property
450 Grand Avenue
See Similar DealsMultiFamily35,296 SF
Financed 05/14/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$340
Total Square Footage:35,296 SF
Transaction Type:Loan
The multifamily property located at 450 Grand Ave. in Clinton Hill, Brooklyn spans 35,296 square feet. The refinance loan amount for this property was $12,000,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Market: Clinton Hill, Brooklyn
- Landlord: Sam Balkany
- Brokers: Tzvi Balsam & Mordechai Brodt - The Leopard Group
The individuals involved in this transaction include Sam Balkany as the landlord and Tzvi Balsam & Mordechai Brodt from The Leopard Group as the brokers handling the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,000,000.00
Monthly NOI$80,000.00
Monthly Debt Service$75,848.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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