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804 Jefferson Avenue

Updated Dec 4, 2024

LMF Provides $8.35M Refinance Loan For 804 Jefferson Avenue Multifamily In Bed-Stuy Brooklyn
FINANCEDMultiFamily

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

About this deal

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.

On the Map

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$8,350,000

$463/SF

MultiFamily

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Players

David Hayum

Meridian Capital Group

Broker

$880.5M

vol

22 deals

Broker
LMF Commercial
LMF CommercialBrokerage
LMF Commercial
LMF CommercialLender
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Brooklyn MultiFamily Market Snapshot

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Deal FAQ

About $463 per square foot on a published $8.4M for 18,000 square feet (2024).

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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

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