David Bistricer Of Clipper Equity Refinances Multifamily Asset In Crown Heights For $84.5M

A multifamily property located at 998 Pacific Street and 1010 Pacific Street in Crown Heights, Brooklyn comprises a total of 165,024 square feet with 175 units. Clipper Equity undertook a refinancing of this asset.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $84,500,000
• Market: Crown Heights, Brooklyn
• Square Footage: 165,024
• Units: 175
• Lender: Citibank & Morgan Stanley
• Landlord: David Bistricer - Clipper Equity
• Loan Type: Refinance

The transaction involved David Bistricer of Clipper Equity, representing the landlord in securing an $84.5 million loan from Citibank and Morgan Stanley for the refinance of the property.