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Midtown Equities & Bobby Cayre Acquire Multifamily Building In Brooklyn Heights For $65M Loan

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FINANCED
$65,000,000
Alex Staikos
Scott Aiese

New York

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MultiFamily141,000 SF
Financed 07/27/2021
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FINANCED

Midtown Equities & Bobby Cayre Acquire Multifamily Building In Brooklyn Heights For $65M Loan

200 Montague Street, Brooklyn Heights, Brooklyn, NY 11201, USA

See Similar Deals
MultiFamily141,000 SF
Financed 07/27/2021
Alex Staikos
Scott Aiese
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$461
Total Square Footage:141,000 SF
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 200 Montague Street in Brooklyn Heights. It spans approximately 141,000 square feet and consists of 121 units. The market for this property is Brooklyn Heights, a highly sought-after neighborhood in Brooklyn.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $65,000,000
  • Address: 200 Montague Street
  • Market: Brooklyn Heights
  • Square Footage: 141,000
  • Units: 121

The lender in this transaction is Centennial Bank. The landlords involved are Midtown Equities and Bobby Cayre, along with Aurora Capital Associates. The brokers facilitating the deal are Scott Aiese and Alex Staikos from JLL.

This transaction involves a construction loan for the amount of $65,000,000.

Players

Alex Staikos
JLL
Alex Staikos
33 deals$4.5B volume
BROKER
Scott Aiese
JLL
Scott Aiese
30 deals$2.7B volume
BROKER
Centennial Bank
Centennial Bank
LENDER
Midtown Equities
Midtown Equities
LANDLORD
Aurora Capital Associates
Aurora Capital Associates
LANDLORD

Details

FINANCED
IMAGE: Scott Aiese, Bobby Cayre, Alex Staikos & Jared Epstein DATE: 07/27/2021 ADDRESS: 200 Montague Street MARKET: Brooklyn Heights ASSET TYPE: Multifamily ~ SF: 141,000 ~ UNITS: 121 LENDER: Centennial Bank LANDLORD: Midtown Equities & Bobby Cayre - Aurora Capital Associates BROKERS: Scott Aiese & Alex Staikos @JLL LOAN AMOUNT: $65,000,000 LOAN TYPE: Construction Loan

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$65,000,000.00

Monthly NOI$433,333.33
Monthly Debt Service$410,844.22
Change in Cash Flow$0.00
Refinance Proceeds$0.00