Clipper Equity Secures $450 Million Refinance Loan From JP Morgan For Brooklyn Multifamily Property
FINANCED
$450,000,000
New York
See Similar DealsMultiFamily788,595 SF
Financed 12/09/2025
FINANCED
Clipper Equity Secures $450 Million Refinance Loan From JP Morgan For Brooklyn Multifamily Property
77 Commercial Street
See Similar DealsMultiFamily788,595 SF
Financed 12/09/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$570
Total Square Footage:788,595 SF
Transaction Type:Loan
The property asset involved in this transaction is a multi-family building located at 77 Commercial Street in the Brooklyn market. It spans a total square footage of 788,595 and comprises 766 residential units, covering an area of 2.6 acres.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $450,000,000
- Loan Type: Refinance
- Lender: JP Morgan
- Landlord: Clipper Equity
- Broker: Henry Bodek - Galaxy Capital
- Date: 12/9/2025
Key individuals involved in the deal include David Bistricer, Jamie Dimon, and Aaron Casden, who played significant roles in facilitating this refinance transaction.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$450,000,000.00
Monthly NOI$3,000,000.00
Monthly Debt Service$2,844,306.11
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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