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Helaba Provides $151M Loan For Multifamily Portfolio In Brooklyn

Property Image
FINANCED
$151,000,000
Geoff Goldstein

New York

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MultiFamily211,654 SF
Financed 04/16/2020
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Property Image
FINANCED

Helaba Provides $151M Loan For Multifamily Portfolio In Brooklyn

105 Grand Ave, Brooklyn, NY 11205, USA

See Similar Deals
MultiFamily211,654 SF
Financed 04/16/2020
Geoff Goldstein
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$713
Total Square Footage:211,654 SF
Transaction Type:Loan

The recently closed property transactions in Brooklyn involved multiple multifamily assets. The properties included in the deal are located at 500 Sterling, 65 N 6th Street, 105 Grand Avenue, 42 Meserole Street, 365 Union Street, 281 Union Street, 168-172 Meserole Street, and 248 Bedford Avenue. The total square footage of these assets is 211,654, with a total of 296 units.

Summary of transaction details:

Helaba provided a loan amount of $151,000,000 for this transaction, facilitating the deal. Bruce Ratner acted as the landlord in this multi-property transaction. The brokers involved in the deal were Geoff Goldstein and Steve Klein, representing their respective agencies. The collaboration of these key individuals and companies contributed to the successful completion of this transaction.

Players

Geoff Goldstein
55 deals$7.9B volume
BROKER

Steven (Steve) Klein
JLL
51 deals$3.9B volume(212) 632-1838
BROKER

Helaba
LENDER

Details

FINANCED
IMAGE: Geoff Goldstein, Richard Lavrich, Bruce Ratner & Steve Klein DATE: 16/04/2020 ADDRESS: 500 Sterling, 65 N 6th, 105 Grand Avenue, 42 Meserole, 365 Union, 281 Union, 168- 172 Meserole, 248 Bedford MARKET: Brooklyn ASSET TYPE: Multifamily LENDER: Helaba LANDLORD: Bruce Ratner BROKERS: Geoff Goldstein, Steve Klein – […] LOAN AMOUNT: $151,000,000 SF: 211,654 UNITS: 296

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$151,000,000.00

Monthly NOI$1,006,666.67
Monthly Debt Service$954,422.72
Change in Cash Flow$0.00
Refinance Proceeds$0.00