Updated Mar 17, 2025
The Moinian Group Secures $105M Loan For 165-Unit Multifamily Building On 11th Avenue
572 11th Ave, New York, NY 10036, USA
$105,000,000
$57/SF
Building Size
1,841,170 SF
Asset Type
MultiFamily
Closing
Feb 10, 2020
About this deal
AI
The multifamily property located at 572 11th Avenue in Clinton has been recently closed on a transaction. The property, with a total area of 184,117 square feet, features 165 units. The deal was facilitated by Greystone Capital Advisors, with Drew Fletcher, Bryan Grover, and Matthew Klauer representing the interested parties.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $105,000,000
- Lender: Bank of China
- Landlord: @MoinianGroup – Joe Moinian
- Brokers: Drew Fletcher, Bryan Grover, Matthew Klauer from Greystone Capital Advisors
The involvement of Bank of China as the lender and @MoinianGroup, led by Joe Moinian, as the landlord played crucial roles in the transaction. The team from Greystone Capital Advisors, including Drew Fletcher, Bryan Grover, and Matthew Klauer, represented the interested parties throughout the deal.
On the Map
$105,000,000
$57/SF
MultiFamily
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93