Updated Oct 28, 2024
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
About this deal
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.
The multifamily loan at 470 Manhattan Avenue, Brooklyn, New York 11222, United States in New York, New York financed for $32.9M in 2022. Reported inventory is 107,137 square feet across 101 units, or about 307 per square foot. This page is the New York, New York file for the 470 Manhattan Avenue, Brooklyn, New York 11222, United States multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 470 Manhattan Avenue, Brooklyn, New York 11222, United States around 2022. Published consideration for 470 Manhattan Avenue, Brooklyn, New York 11222, United States is $32.9M, dated 2022. Cite this PNC Bank Refinances Multifamily Property On Manhattan Avenue For $32.9M loan when underwriting similar multifamily product around New York, New York.
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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