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Wolfe Landau And Yoel Werzberger Secure $24 Million Refinance Loan From Popular Bank For Gowanus Multifamily
FINANCED
$24,000,000
New York
See Similar DealsMultiFamily41,013 SF
Financed 06/24/2024
FINANCED
Wolfe Landau And Yoel Werzberger Secure $24 Million Refinance Loan From Popular Bank For Gowanus Multifamily
584 4th Avenue
See Similar DealsMultiFamily41,013 SF
Financed 06/24/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$585
Total Square Footage:41,013 SF
Transaction Type:Loan
The property involved in this transaction is a 46-unit residential elevator building located at 584 4th Avenue in Gowanus, Brooklyn. This multifamily asset has a total square footage of 41,013 and received a refinance loan of $24,000,000 from Popular Bank.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,000,000
- Loan Type: Refinance
- Address: 584 4th Avenue
- Market: Gowanus, Brooklyn
- Lender: Popular Bank
- Landlord: Wolfe Landau - Watermark Capital Group & Yoel Werzberger
Watermark Capital Group, led by Wolfe Landau and Yoel Werzberger, facilitated the loan for the refinance of this residential building, showcasing their active role in securing funding for multifamily properties in the area.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,000,000.00
Monthly NOI$160,000.00
Monthly Debt Service$151,696.33
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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