facebook
Traded Co logo
Submit

Duke Properties Acquires Brooklyn Multifamily From Valley National Bank

Property Image
FINANCED
$2,059,000
Thomas (Tom) Shihadeh
Shaun Riney
Jonathan (Jon) Cypers
+ 2

New York

See Similar Deals
MultiFamily6,264 SF
Financed 03/30/2018
the dealplayerscompscontact
Property Image
FINANCED

Duke Properties Acquires Brooklyn Multifamily From Valley National Bank

54 Cumberland St, Brooklyn, NY 11205, USA

See Similar Deals
MultiFamily6,264 SF
Financed 03/30/2018
Thomas (Tom) Shihadeh
Shaun Riney
Jonathan (Jon) Cypers
+ 2
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$328
Total Square Footage:6,264 SF
Transaction Type:Loan

Located at 54 Cumberland Street in Brooklyn, NY, a multifamily property was recently acquired/financed for a transaction amount of $2,059,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,059,000
  • Address: 54 Cumberland Street, Brooklyn, NY
  • Asset Type: Multifamily

Duke Properties, represented by Albert Dweck and Adam Sultan, served as the landlord for this transaction. Valley National Bank, led by Gerald H. Lipkin, provided the financing. The deal was facilitated by Brad Domenico from the Progress Capital agency.

Players

Brad Domenico
Cushman & Wakefield
Brad Domenico
134 deals$3.6B volume
BROKER
Jonathan (Jon) Cypers
Jonathan Cypers
8 deals$9.6M volume
BROKER
Shaun Riney
Marcus & Millichap
Shaun Riney
355 deals$1.8B volume(718) 475-4369
BROKER
Thomas (Tom) Shihadeh
Marcus & Millichap
Thomas Shihadeh
15 deals$46.5M volume
BROKER
Progress Capital
Progress Capital
BROKERAGE
Valley National Bank
Valley National Bank
LENDER
AD
Duke Properties
Albert Dweck
9 deals$21.9M volume
LANDLORD
Duke Properties
Duke Properties
LANDLORD

Details

FINANCED
IMAGE: Gerald H. Lipkin, Brad Domenico (@domenico317) , Albert Dweck (@AjDweck) and Adam Sultan (@AdamSultan18) DATE: 03/30/2018 ACQUIRED/FINANCED: ADDRESS: 54 Cumberland Street, Brooklyn, NY ASSET TYPE: Multifamily LANDLORD: Duke Properties – Albert Dweck and Adam Sultan LENDER: Valley National Bank – Gerald H. Lipkin BROKER: Brad Domenico (@domenico317), Partner Progress Capital AMOUNT: $2,059,000 SF: 5,940 […]

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,059,000.00

Monthly NOI$13,726.67
Monthly Debt Service$13,014.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00