Updated Mar 17, 2025
M&T Realty Capital Corporation Provides $144M Loan For Multifamily Property In Prospect Heights
662 Pacific Street & 662 Pacific St, Brooklyn, NY 11217, USA
$144,000,000
$17,769/SF
Building Size
4,052 SF
Asset Type
MultiFamily
Closing
May 30, 2022
About this deal
AI
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
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93