FINANCEDMultiFamily
Sam Balkany Obtains $12M Refinance Loan For Clinton Hill Multifamily Property
450 Grand Avenue
$12,000,000
$340/SF
Building Size
35,296 SF
Asset Type
MultiFamily
Closing
May 14, 2024
AI
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.
Players
Brooklyn 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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93