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Highpoint Property Group Acquires Multifamily Property On Atlantic Avenue For $16M

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FINANCED
$16,000,000

New York

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MultiFamily9,376 SF
Financed 07/29/2020
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Property Image
FINANCED

Highpoint Property Group Acquires Multifamily Property On Atlantic Avenue For $16M

90-92 Atlantic Ave #86, Ozone Park, NY 11416, USA

See Similar Deals
MultiFamily9,376 SF
Financed 07/29/2020
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,706
Total Square Footage:9,376 SF
Transaction Type:Loan

The multifamily property located at 86, 90, and 92 Atlantic Avenue in Cobble Hill has been involved in a closed transaction. The property consists of 30 units with a total square footage of 9,376. The deal was facilitated by Bank Leumi, who provided a loan of $16,000,000. Highpoint Property Group, represented by Drew Popkin, acted as the landlord in this transaction.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,000,000
  • Address: 86, 90, 92 Atlantic Avenue
  • Market: Cobble Hill
  • Units: 30
  • Square Footage: 9,376

Drew Popkin, representing Highpoint Property Group, played a key role in the transaction as the landlord. Bank Leumi provided financing for the deal, further solidifying their involvement.

Players

Bank Leumi
Bank Leumi
LENDER
DP
Drew Popkin
11 deals$78.1M volume
LANDLORD

Details

FINANCED
IMAGE: IMAGE: Drew Popkin DATE: 07/29/2020 ADDRESS: 86, 90, 92 Atlantic Avenue MARKET: Cobble Hill ASSET TYPE: Multifamily LENDER: Bank Leumi LANDLORD: Highpoint Property Group – Drew Popkin LOAN AMOUNT: $16,000,000 UNITS: 30 SF: 9,376

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$16,000,000.00

Monthly NOI$106,666.67
Monthly Debt Service$101,130.88
Change in Cash Flow$0.00
Refinance Proceeds$0.00