TerraCRG Partners Represents Buyer In $86.7M Acquisition & Construction Loan For Williamsburg Multifamily
FINANCED
$86,700,000
New York
See Similar DealsMultiFamily
Financed 03/24/2022
FINANCED
TerraCRG Partners Represents Buyer In $86.7M Acquisition & Construction Loan For Williamsburg Multifamily
575 Grand Street
See Similar DealsMultiFamily
Financed 03/24/2022
Summary
NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 575 Grand Street in Williamsburg. It spans approximately 175,000 square feet and consists of 186 units. The transaction took place on 03/24/2022.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $86,700,000
- Address: 575 Grand Street
- Market: Williamsburg
- Square Footage: 175,000
- Number of Units: 186
The lender for this transaction was SCALE Lending, represented by Martin Nussbaum. The buyer's representative was Daniel Lebor & Dan Marks from TerraCRG Partners. The loan, valued at $86,700,000, was for the purpose of acquisition and construction. The landlord, Goose Property Management, was represented by Jacob Katz.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$86,700,000.00
Monthly NOI$578,000.00
Monthly Debt Service$548,002.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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