Zelig Weiss Secures $24.4M Refinance Loan For 64-Unit Bedford Stuyvesant Multifamily
633 Marcy Avenue Bedford Stuyvesant, Brooklyn, New York 11206, USA
$24,368,829
Building Size
—
Asset Type
MultiFamily
Closing
Jun 7, 2023
AI
Zelig Weiss has secured a refinancing loan valued at $24.4 million from Valley National Bank for a 64-unit residential elevator building located at 633 Marcy Avenue in Bedford Stuyvesant, Brooklyn.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,368,829
- Address: 633 Marcy Avenue
- Market: Bedford Stuyvesant, Brooklyn
- Units: 64
- Lender: Valley National Bank - Harris Schornstein
- Landlord: Zelig Weiss
- Loan Type: Refinance
Zelig Weiss, the landlord, successfully secured a refinancing loan worth $24.4 million from Valley National Bank. The loan will be used for a residential elevator building in the Bedford Stuyvesant neighborhood of Brooklyn. The property consists of 64 units.
Players
Riverhead 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
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93