Updated Jan 24, 2025
Invesco Real Estate Provides $73.6M Acquisition Loan For Multifamily Property In Williamsburg
8 Marcy Ave Brooklyn, NY 11211, USA
$73,600,000
$682/SF
Building Size
107,903 SF
Asset Type
MultiFamily
Closing
Jul 27, 2023
About this deal
AI
The property asset involved in this transaction is a multifamily building located at 8 Marcy Avenue in Williamsburg. The asset features a total square footage of 107,903 and comprises 123 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,600,000
- Lender: Invesco Real Estate
- Landlord: The Carlyle Group
- Brokers: Steven Klein, Geoff Goldstein, Christopher Pratt & Ethan Stanton - JLL
- Loan Type: Acquisition
This transaction involves key representatives from the brokerage firm JLL: Steven Klein, Geoff Goldstein, Christopher Pratt, and Ethan Stanton, who facilitated the acquisition loan on behalf of The Carlyle Group. Their roles were integral to the deal's execution and dynamics.
Players
New York 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
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93