facebook
Traded Co logo
Submit

Walker & Dunlop Arrange $96M Construction Loan For Sunset Park Multifamily Property

Property Image
FINANCED
$96,000,000
Michael Ianno
Keith Kurland
+ 3

New York

See Similar Deals
MultiFamily
Financed 03/12/2024
the dealplayerscompscontact
Property Image
FINANCED

Walker & Dunlop Arrange $96M Construction Loan For Sunset Park Multifamily Property

737 4th Avenue

See Similar Deals
MultiFamily
Financed 03/12/2024
Michael Ianno
Keith Kurland
+ 3
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The multifamily property located at 737 4th Avenue in Sunset Park, Brooklyn, consisting of 187 units, was involved in a recent transaction. JP Morgan and Canyon Partners provided a construction loan amounting to $96,000,000 for this asset. The property's landlords are BEB Capital, Totem, Ofer Cohen, and SK Development. The transaction was facilitated by brokers Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Mo Beler, and Michael Ianno from Walker & Dunlop.

Summary of transaction details:

The key individuals involved in this deal include Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Mo Beler, and Michael Ianno from Walker & Dunlop. These professionals played crucial roles in securing the significant construction loan provided by JP Morgan and Canyon Partners for the multifamily property in Sunset Park, Brooklyn.

Players

Aaron Appel
190 deals$31.9B volume
BROKER

Jonathan Schwartz
Walker & Dunlop
165 deals$26.9B volume
BROKER

Keith Kurland
Walker & Dunlop
170 deals$29.1B volume
BROKER

Adam Schwartz
Walker & Dunlop
160 deals$25.4B volume(646) 491-8869
BROKER

Michael Ianno
Walker & Dunlop
51 deals$6B volume
BROKER

Mo Beler
Walker & Dunlop
35 deals$6.4B volume
BROKER

Canyon Partners
LENDER

Details

FINANCED
IMAGE: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, Mo Beler & Michael Ianno DATE: 03/12/2024 ADDRESS: 737 4th Avenue MARKET: Sunset Park, Brooklyn ASSET TYPE: Multifamily ~ Units: 187 LENDER: JP Morgan (@JPMorgan) & Canyon Partners LANDLORD: BEB Capital (@BebCapital), Totem, Ofer Cohen & SK Development BROKERS: Aaron Appel, Jonathan Schwartz (@Jschwa1386), Keith Kurland (@KaKurland), Adam Schwartz (@AdamSchwartz88), Mo Beler (@MBeler) & Michael Ianno (@MIanno20) - Walker & Dunlop (@WalkerDunlop) LOAN AMOUNT: $96,000,000 LOAN TYPE: Construction

Stay in the Know

Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.

By subscribing, you agree to our Terms of Service and Privacy Policy.

Similar Deals

Contact

Get in touch with the broker you want

Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$96,000,000.00

Monthly NOI$640,000.00
Monthly Debt Service$606,785.30
Change in Cash Flow$0.00
Refinance Proceeds$0.00