MF1 Capital Provides $204M Refinance Loan For Mixed-Use Property In Clinton Hill
550 Clinton Ave, Brooklyn, NY 11238, USA & 550 Clinton Ave, Brooklyn, NY 11238, USA
$204,000,000
$727/SF
Building Size
280,000 SF
Asset Type
MultiFamily
Closing
Nov 14, 2022
AI
The mixed-use property located at 550 Clinton Avenue in Clinton Hill has undergone a refinancing transaction. The loan amount for this deal was $204,000,000.00. The lender involved in this transaction was MF1 Capital, while the landlord was Hope Street Capital.
Summary of transaction details:
- Property Type: Mixed-Use
- Transaction Amount: $204,000,000.00
- Lender: MF1 Capital
- Landlord: Hope Street Capital
Walker & Dunlop played a crucial role in this deal, with brokers Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Michael Diaz, and Sean Bastian representing the parties involved.
Please note that no additional information was available regarding the property's characteristics, address, or market value.
Players
New York 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
0.08%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93