Updated Oct 29, 2024
Square Mile Capital Management Provides $180.3M Loan For 550 Clinton Avenue Multifamily In Clinton Hill, Brooklyn
550 Clinton Avenue
$180,300,000
$643/SF
Building Size
280,000 SF
Asset Type
MultiFamily
Closing
Dec 10, 2020
About this deal
AI
The multifamily property located at 550 Clinton Avenue in Clinton Hill, Brooklyn has been involved in a recent loan transaction. The loan amount obtained for this property is $180,300,000, and it spans an area of 280,000 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $180,300,000
- Address: 550 Clinton Avenue
- Market: Clinton Hill, Brooklyn
The lender for this transaction is Square Mile Capital Management, providing the necessary funds for the acquisition or development of the property. The landlord of 550 Clinton Avenue is Jeffrey Gershon, representing Hope Street Capital. Additionally, AKS Capital Partners, specifically Aaron Appel, Keith Kurland, Jonathan Schwartz, Adam Schwartz, and Michael Diaz, have acted as brokers in this deal.
On the Map
$180,300,000
$643/SF
MultiFamily
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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
0.09%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93