Updated Feb 16, 2024
Daten Group & Valyrian Capital Get $17M Loan For Prospect Heights Multifamily
856 Washington Ave, Brooklyn, NY 11238, USA
$17,000,000
$589/SF
Building Size
28,848 SF
Asset Type
MultiFamily
Closing
Mar 29, 2020
About this deal
AI
Located at 856 Washington Avenue in Prospect Heights, BK, this multifamily property was recently involved in a closed transaction. The property spans a total area of 28,848 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,000,000
- Lender: Emerald Creek Capital – Mike Cleaver & Matt Fantuzzi
- Landlord: Daten Group – David Ennis, Craig Roseman & Valyrian Capital – Theodore Kakoyiannis
- Broker: MSCO Real Estate Advisors
The deal was facilitated by MSCO Real Estate Advisors, representing the parties involved. The lender for this transaction was Emerald Creek Capital, with Mike Cleaver and Matt Fantuzzi overseeing the loan process. The landlord entities consisted of Daten Group, represented by David Ennis and Craig Roseman, along with Valyrian Capital, represented by Theodore Kakoyiannis.
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
0.93%
Cash-on-Cash
-0.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93