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Bluejay Management Refinances 93-Unit Residential Apartment In Brooklyn With $39M Loan From Cross River Bank

Property Image
FINANCED
$39,000,000
YN
YK
Marc Jacobowitz

New York

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MultiFamily93,789 SF
Financed 10/18/2021
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FINANCED

Bluejay Management Refinances 93-Unit Residential Apartment In Brooklyn With $39M Loan From Cross River Bank

50 Clarkson Ave, Brooklyn, NY, USA

See Similar Deals
MultiFamily93,789 SF
Financed 10/18/2021
YN
YK
Marc Jacobowitz
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$415
Total Square Footage:93,789 SF
Transaction Type:Loan

Yerachmeal Jacobson's Instagram post from October 19, 2021, showcased a residential apartment building located at 50 Clarkson Ave. in Brooklyn. The property consists of 93 units, making it an attractive investment opportunity in the Brooklyn market.

Summary of transaction details:

  • Property Type: Residential Apartment
  • Transaction Date: 10/19/2021
  • Address: 50 Clarkson Ave.
  • Market: Brooklyn
  • Units: 93

In this deal, Cross River Bank provided a loan of $39,000,000 to the landlord, Bluejay Management, represented by Marc Jacobowitz and Yerachmeal Jacobson. The loan type was a refinance. The brokers involved in the transaction were Yigal Y. Niasoff and Yankel Korolitzky.

Players

YN
Yigal Y. Niasoff
2 deals$81.5M volume
BROKER
YK
Yankel Korolitzky
3 deals$84.8M volume
BROKER
Cross River Bank
Cross River Bank
LENDER
Marc Jacobowitz
Bluejay Management
Marc Jacobowitz
10 deals$171.6M volume
LANDLORD
Bluejay Management
Bluejay Management
LANDLORD

Details

FINANCED
IMAGE: Yerachmeal Jacobson DATE: 10/19/2021 ADDRESS: 50 Clarkson Ave. MARKET: Brooklyn ASSET TYPE: Residential Apt ~ UNITS: 93 LENDER: Cross River Bank LANDLORD: Bluejay Management - Marc Jacobowitz & Yerachmeal Jacobson BROKERS: Yigal Y. Niasoff & Yankel Korolitzky LOAN AMOUNT: $39,000,000 LOAN TYPE: Refinance

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$39,000,000.00

Monthly NOI$260,000.00
Monthly Debt Service$246,506.53
Change in Cash Flow$0.00
Refinance Proceeds$0.00