LMF Provides $8.35M Refinance Loan For 804 Jefferson Avenue Multifamily In Bed-Stuy Brooklyn
804 Jefferson Avenue
$8,350,000
$463/SF
Building Size
18,000 SF
Asset Type
MultiFamily
Closing
Aug 28, 2024
AI
The property asset involved in this transaction is a multifamily building located at 804 Jefferson Avenue, in the Bed-Stuy neighborhood of Brooklyn. This asset spans a total of 18,000 square feet and comprises 28 residential units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $8,350,000
- Loan Type: Refinance
- Loan Terms: 5-year term fixed at 6.26%, Full Term Interest Only
- Lender: LMF - Ben Silver
- Broking Agency: Meridian Capital Group
- Brokers: David Hayum & Michael Farkovits
- Date: 08/28/2024
This transaction was facilitated by Ben Silver from LMF, who served as the lender. The brokerage team from Meridian Capital Group, comprising David Hayum and Michael Farkovits, represented the transaction, contributing their expertise to secure the financing for this property.
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
1.90%
Cash-on-Cash
-0.54%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93