LMF Commercial Refinances Multifamily Property In Brooklyn Heights With $2.025M Loan
FINANCED
$2,025,000
New York
See Similar DealsMultiFamily
Financed 08/16/2023
FINANCED
LMF Commercial Refinances Multifamily Property In Brooklyn Heights With $2.025M Loan
MultiFamily
Financed 08/16/2023
Summary
Asset Type:MultiFamily
Transaction Type:Loan
A multi-family property in Brooklyn Heights has recently undergone a refinancing transaction. The property, located in the market of Brooklyn Heights, was involved in a loan deal facilitated by LMF Commercial. Nihad Choudhury represented the lender in this transaction. The loan amount for this refinancing deal was $2,025,000.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $2,025,000
- Market: Brooklyn Heights
Robert Tobias from RJT Capital Partners acted as the broker in this refinancing deal. The loan was of the CMBS type, with a term of 5 years and a loan-to-value ratio (LTV) of 75.0%. The loan terms also included a full interest-only period, providing financial flexibility to the borrower.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,025,000.00
Monthly NOI$13,500.00
Monthly Debt Service$12,799.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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