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Crown Heights, New York Cit...

Meridian Capital Group Refinances Crown Heights Multifamily For $32.8M
FINANCEDMultiFamily

Meridian Capital Group Refinances Crown Heights Multifamily For $32.8M

Crown Heights, New York City, New York, United States

$32,800,000

Building Size

Asset Type

MultiFamily

Closing

May 2, 2022

AI

David Hayum and Sam Katz of Meridian Capital Group represented both parties in a recent transaction in Crown Heights. The deal involved the refinance of a multifamily property.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $32,800,000

The loan amount for the refinance was $32,800,000. The transaction took place in Crown Heights, a market known for its diverse range of properties. The property involved in the deal is a multifamily asset, providing opportunities for multiple rental units. The loan type for this transaction was a refinance, allowing the borrower to adjust their financing to better suit their needs.

Players

David Hayum

Meridian Capital Group

Broker

$877.7M

vol

21 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.48%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93