PNC Bank Refinances Multifamily Property On Manhattan Avenue For $32.9M
470 Manhattan Avenue, Brooklyn, New York 11222, United States
$32,900,000
$307/SF
Building Size
107,137 SF
Asset Type
MultiFamily
Closing
Mar 30, 2022
AI
The multifamily property located at 470 Manhattan Avenue in Greenpoint has been refinanced through a loan. The property spans a total square footage of 107,137. The loan was finalized on March 31, 2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $32,900,000
- Units: 101
- Lender: PNC Bank
- Landlord: Heatherwood Luxury Rentals
PNC Bank provided the refinancing loan for the property. Heatherwood Luxury Rentals acts as the landlord for this multifamily property transaction.
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
0.48%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93