Anastasios And Christopher Vasilakos Refinance Bath Beach Multifamily Building For $7M
8714 21st Avenue Brooklyn, New York 11214, USA
$7,000,000
$120/SF
Building Size
57,876 SF
Asset Type
MultiFamily
Closing
May 4, 2023
AI
Anastasios Vasilakos and Christopher Vasilakos secured a refinancing loan valued at $7 million from Flushing Bank for a residential elevator building comprising 66 units located at 8714 21st Avenue in Bath Beach, Brooklyn. The transaction, recorded on June 5, 2023, involved a property with 57,876 square feet of built space.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,000,000
- Address: 8714 21st Avenue
- Market: Bath Beach, Brooklyn
- Size: 57,876 square feet
- Units: 66
Flushing Bank, represented by Jothy Narendran, provided the loan for the refinancing. The landlords of the property are Anastasios Vasilakos and Christopher Vasilakos.
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93