Updated Oct 25, 2024
Meral Property Group & Loketch Group Acquire MultiFamily Property In Crown Heights, Brooklyn With $25.75M Construction Loan
630 Grand Avenue
$25,750,000
Building Size
—
Asset Type
MultiFamily
Closing
Sep 1, 2023
About this deal
AI
The property involved in this closed transaction is a multi-family asset located at 630 Grand Avenue in Crown Heights, Brooklyn. The deal was facilitated by Meral Property Group and Loketch Group, represented by Allan Lebovits, Louis Lebovits, Moishe Loketch, and Pinny Loketch. The brokers involved in the transaction were Morris Betesh and Alex Bailkin from Meridian Capital Group.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $25,750,000
The loan secured for this deal was a construction loan in the amount of $25,750,000. This loan will be used to finance the construction of the multi-family property located at 630 Grand Avenue.
Players
New Haven MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New Haven multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93