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M&T Realty Capital Corporation Provides $144M Loan For Multifamily Property In Prospect Heights

Property Image
FINANCED
$144,000,000

New York

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MultiFamily8,104 SF
Financed 05/30/2022
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Property Image
FINANCED

M&T Realty Capital Corporation Provides $144M Loan For Multifamily Property In Prospect Heights

662 Pacific Street & 662 Pacific St, Brooklyn, NY 11217, USA

See Similar Deals
MultiFamily8,104 SF
Financed 05/30/2022
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$17,769
Total Square Footage:8,104 SF
Transaction Type:Loan

The Brodsky Organization has obtained a $144 million loan for a multifamily property located at 662 Pacific St. in Prospect Heights. The loan, provided by M&T Realty Capital Corporation, has a term of 10 years and is interest-only.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $144,000,000
  • Units: 312
  • Acres: 22

The lender for this transaction is John Taylor, Donna Falzarano, Mike Edelman, and Kyra Berzinis from M&T Realty Capital Corporation. They are providing the loan to The Brodsky Organization.

Players

M&T Realty Capital Corporation
M&T Realty Capital Corporation
BROKERAGE
Bank Of NY Mellon
Bank Of NY Mellon
LENDER
M&T Bank
M&T Bank
LENDER
M&T Realty Capital Corporation
M&T Realty Capital Corporation
LENDER
TO
The Brodsky Organization
LANDLORD

Details

FINANCED
IMAGE: Donna Falzarano, John Taylor, Daniel Brodsky, Mike Edelman & Kyra Berzinis DATE: 05/31/2022 ADDRESS: 662 Pacific St. MARKET: Prospect Heights ASSET TYPE: Multifamily ~ UNITS: 312 ~ ACRES: 22 LENDER: John Taylor, Donna Falzarano (@D.Falzarano), Mike Edelman & Kyra Berzinis - M&T Realty Capital Corporation LANDLORD: The Brodsky Organization (@BrodskyOrg) LOAN AMOUNT: $144,000,000 LOAN TERMS: 10-year, interest-only

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$144,000,000.00

Monthly NOI$960,000.00
Monthly Debt Service$910,177.95
Change in Cash Flow$0.00
Refinance Proceeds$0.00