Updated Jun 5, 2025
Chase Bank Provides $8.2M Loan For Brooklyn Multifamily Property
734-750 Ocean Avenue, Brooklyn, NY, USA
$8,200,000
$124/SF
Building Size
66,140 SF
Asset Type
MultiFamily
Closing
Jul 6, 2020
About this deal
AI
Located at 734-750 Ocean Avenue in Brooklyn, this multifamily property was involved in a recent closed transaction. The property, owned by Stavros Haviaras, was the subject of a deal facilitated by broker Simon Rosenfeld from Meridian Capital Group. The deal involved a loan provided by Chase Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $8,200,000
- Date: 07/06/2021
- Address: 734-750 Ocean Avenue
- Market: Brooklyn
- Lender: Chase Bank
- Landlord: Stavros Haviaras
- Broker: Simon Rosenfeld - Meridian Capital Group
The loan for this transaction amounted to $8,200,000. The loan terms were fixed at 3.10% and included a 7-year term with 3 years of interest only, followed by a 30-year amortization period.
Players
Brooklyn 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
1.93%
Cash-on-Cash
-0.55%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93