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953 Dean Street

Updated May 12, 2025

David Bistricer Of Clipper Equity Secures $160M Refinance Loan For Prospect House In Crown Heights
FINANCEDMultiFamily

David Bistricer Of Clipper Equity Secures $160M Refinance Loan For Prospect House In Crown Heights

953 Dean Street

$160,000,000

Units

240

Asset Type

MultiFamily

Closing

May 6, 2025

About this deal

AI

The property asset involved is a 240-unit multifamily development located at 953 Dean Street in Crown Heights, Brooklyn. The transaction is characterized by a refinance loan amount of $160,000,000 secured by Clipper Equity for the Prospect House development.

Summary of transaction details:

Key individuals in this transaction include Scott Waynebern, Michael Squires, and Ben Rosenberg representing MF1 Capital, who provided the financing. David Bistricer, representing Clipper Equity, is the landlord securing the refinancing. The brokerage services were handled by Leah Paskus and Pinchas Vogel from Landstone Capital Group.

On the Map

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$160,000,000

MultiFamily

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Players

Leah Paskus

Landstone Capital Group

Broker

$3.6B

vol

36 deals

Broker
MF1 Capital
MF1 CapitalLender
David Bistricer

David Bistricer

Clipper Equity

Landlord

$2.8B

vol

24 deals

Landlord
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Brooklyn MultiFamily Market Snapshot

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.10%

Cash-on-Cash

-0.03%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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