Updated Oct 29, 2024
Chase Bank Provides $22.7M Refinance Loan For Brooklyn Multifamily Portfolio
820 E 10th St Brooklyn, NY 11230, USA
$22,700,000
Units
323
Asset Type
MultiFamily
Closing
Jul 21, 2023
About this deal
AI
A multifamily portfolio consisting of 323 units located at 820 East 10th Street, 2775 East 16th Street, 1681 49th Street, 1205 Avenue R, 2101 Bay Ridge Parkway, and 5512-5520 15th Avenue in Brooklyn has been involved in a loan refinancing transaction.
Summary of transaction details
- Property Type: Multifamily Portfolio
- Transaction Amount: $22,700,000
- Lender: Chase Bank
- Brokers: Jacob Schmuckler and Meir Schlusselberg - Meridian Capital Group
- Loan Type: Refinance
- Loan Terms: 5.57%
The loan refinancing transaction was facilitated by Jacob Schmuckler and Meir Schlusselberg from Meridian Capital Group. Chase Bank provided the refinancing loan of $22,700,000 at a rate of 5.57%.
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
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93