Updated Oct 28, 2024
Bluejay Management Secures $39M Loan For Multifamily Property In Flatbush With Cross River Bank
50 Clarkson Avenue, Little Caribbean, Brooklyn, NY, USA
$39,000,000
$415/SF
Building Size
93,789 SF
Asset Type
MultiFamily
Closing
Aug 18, 2021
About this deal
AI
The multifamily property located at 50 Clarkson Avenue in Flatbush has been involved in a closed transaction. The property spans a total square footage of 93,789 and consists of 93 units. The loan amount for this transaction was $39,000,000. The lender for this deal was Cross River Bank, while the landlord represented by Bluejay Management is Marc Jacobowitz.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $39,000,000
- Square Footage: 93,789
- Address: 50 Clarkson Avenue, Flatbush
- Market: Flatbush
- Lender: Cross River Bank
- Landlord: Bluejay Management - Marc Jacobowitz
In this transaction, Cross River Bank served as the lender, providing the loan amount of $39,000,000 to facilitate the deal. Bluejay Management, represented by Marc Jacobowitz, acted as the landlord in this multifamily property transaction located at 50 Clarkson Avenue, Flatbush.
On the Map
$39,000,000
$415/SF
MultiFamily
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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
0.41%
Cash-on-Cash
-0.12%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93