Updated Nov 28, 2024
Madison Realty Capital Acquires Multifamily Buildings In Clinton Hill For $85M
504 Myrtle Ave, Brooklyn, NY 11205, USA
$85,000,000
$3,469/SF
Building Size
24,500 SF
Asset Type
MultiFamily
Closing
Dec 17, 2019
About this deal
AI
The multifamily properties located at 490 Myrtle Avenue and 504 Myrtle Avenue in Clinton Hill have been involved in a closed transaction. The deal was facilitated by Madison Realty Capital, represented by Josh Zegen. The transaction includes a loan amount of $85,000,000 from Citigroup. The properties consist of a total of 236 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $85,000,000
- Address: 490 Myrtle Avenue, 504 Myrtle Avenue
- Market: Clinton Hill
Josh Zegen, the co-founder and managing principal of Madison Realty Capital, played a key role in this deal. Madison Realty Capital is a recognized real estate private equity firm. The loan for the transaction was provided by Citigroup.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Josh Zegen to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93