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FREO Group Acquires Multifamily Property In Clinton Hill For $17.4M

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FINANCED
$17,400,000

New York

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MultiFamily523,750 SF
Financed 01/07/2020
the dealdetailscomps
Property Image
FINANCED

FREO Group Acquires Multifamily Property In Clinton Hill For $17.4M

79 Clifton Pl, Brooklyn, NY 11238, USA

See Similar Deals
MultiFamily523,750 SF
Financed 01/07/2020
the dealdetailscomps

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$33
Total Square Footage:523,750 SF
Transaction Type:Loan

Located at 79 Clifton Place in Clinton Hill, this multifamily property recently underwent a closed transaction. The property encompasses 52,375 square feet and features a total of 40 units. The deal involved a loan from Voya Investment Management, with an acquisition loan amount of $17,400,000.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $17,400,000
  • Address: 79 Clifton Place
  • Market: Clinton Hill
  • Lender: Voya Investment Management
  • Landlord: FREO Group – Mathis Luecker
  • Brokers: @JLL
  • Square Footage: 52,375
  • Units: 40

The deal was facilitated through the representation of @JLL. The landlord for the property is FREO Group, with Mathis Luecker acting as their representative. This transaction marks an important collaboration between all parties involved, contributing to the growth of the multifamily market in Clinton Hill.

Details

FINANCED
IMAGE: Marko Kazanjian, Max Herzog, Meng Lee, Karim Elsayyad, Matt Fagella DATE: 01/07/2020 ADDRESS: 79 Clifton Place MARKET: Clinton Hill ASSET TYPE: Multifamily LENDER: Voya Investment Management LANDLORD: FREO Group – Mathis Luecker BROKERS: @JLL LOAN AMOUNT: $17,400,000 LOAN TYPE: Acquisition SF: 52,375 UNITS: 40

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$17,400,000.00

Monthly NOI$116,000.00
Monthly Debt Service$109,979.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00