Valley National Bank Provides $44M Refinancing For Boerum Hill, Brooklyn Multifamily Properties
FINANCED
$44,000,000
New York
See Similar DealsMultiFamily79,978 SF
Financed 08/31/2022
FINANCED
Valley National Bank Provides $44M Refinancing For Boerum Hill, Brooklyn Multifamily Properties
595 Baltic Street, Brooklyn, New York 11217, United States
See Similar DealsMultiFamily79,978 SF
Financed 08/31/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$550
Total Square Footage:79,978 SF
Transaction Type:Loan
The multifamily property located at 595 Baltic Street & 577 Baltic Street in Boerum Hill, Brooklyn has recently undergone a refinance transaction. With a total square footage of 79,978 and a total of 97 units, this property offers a lucrative investment opportunity in the thriving market of Boerum Hill.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $44,000,000
- Address: 595 Baltic Street & 577 Baltic Street
- Market: Boerum Hill, Brooklyn
- Landlord: Adam America Real Estate - Ron Vaksin
Valley National Bank played a crucial role in this transaction by providing a loan amount of $44,000,000 to facilitate the refinance. Adam America Real Estate, represented by Ron Vaksin, served as the landlord in this deal. This collaboration between the lender and the landlord demonstrates the strong financial support and strategic decision-making involved in this multifamily property refinance.
Players
LENDER
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$44,000,000.00
Monthly NOI$293,333.33
Monthly Debt Service$278,109.93
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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