Metropolitan Commercial Bank Provides $14.25M Permanent Loan For Brooklyn Multifamily Property
FINANCED
$14,250,000
New York
See Similar DealsMultiFamily36,107 SF
Financed 03/03/2022
FINANCED
Metropolitan Commercial Bank Provides $14.25M Permanent Loan For Brooklyn Multifamily Property
8904 5th Avenue, Brooklyn, New York 11209, United States
See Similar DealsMultiFamily36,107 SF
Financed 03/03/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$394
Total Square Footage:36,107 SF
Transaction Type:Loan
Located at 8904 5th Avenue in Brooklyn, this multifamily property spans approximately 36,107 square feet. The transaction took place on March 3, 2022, involving a loan provided by Metropolitan Commercial Bank.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,250,000
- Market: Brooklyn
- Lender: Metropolitan Commercial Bank
- Brokers: Adam Hakim, James Murad & David Baker - Meridian Capital Group
The loan, amounting to $14,250,000, was secured for the purchase of this multifamily property on 5th Avenue. Acting on behalf of the parties involved, Adam Hakim, James Murad, and David Baker from Meridian Capital Group represented the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$14,250,000.00
Monthly NOI$95,000.00
Monthly Debt Service$90,069.69
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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