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Wolfe Landau Of Watermark Capital Group Secures $5M Refinance From Peapack Private Bank & Trust For Multifamily At 980 Bergen Street
FINANCED
$5,000,000
New York
See Similar DealsMultiFamily13,960 SF
Financed 11/26/2025
FINANCED
Wolfe Landau Of Watermark Capital Group Secures $5M Refinance From Peapack Private Bank & Trust For Multifamily At 980 Bergen Street
980 Bergen Street
See Similar DealsMultiFamily13,960 SF
Financed 11/26/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$358
Total Square Footage:13,960 SF
Transaction Type:Loan
The asset involved in this transaction is a multifamily property located at 980 Bergen Street in Crown Heights, Brooklyn. The building spans 13,960 square feet and consists of eight rental units. The transaction includes a refinancing loan amounting to $5,000,000 secured by the landlord, Wolfe Landau of Watermark Capital Group, from Peapack Private Bank & Trust.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,000,000
- Loan Type: Refinance
- Address: 980 Bergen Street
- Market: Crown Heights, Brooklyn
- Lender: Peapack Private Bank & Trust
- Landlord: Wolfe Landau - Watermark Capital Group
In this transaction, Watermark Capital Group, through 980 Bergen LLC, facilitated a refinancing arrangement, enhancing the financial position of the property. The involvement of Peapack Private Bank & Trust as the lender underscores the financial dynamics of the deal.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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