Cheskie Weisz & Yaakov Klein Refinance Multifamily Property In Crown Heights For $22.75M With Peapack Gladstone Bank
FINANCED
$22,750,000
New York
See Similar DealsMultiFamily52,000 SF
Financed 03/11/2022
FINANCED
Cheskie Weisz & Yaakov Klein Refinance Multifamily Property In Crown Heights For $22.75M With Peapack Gladstone Bank
31 Brooklyn Avenue, Brooklyn, New York 11203, United States
See Similar DealsMultiFamily52,000 SF
Financed 03/11/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$437
Total Square Footage:52,000 SF
Transaction Type:Loan
A multifamily property located at 31 Brooklyn Ave in Crown Heights has recently undergone a refinancing transaction. The property spans approximately 52,000 square feet and consists of 49 units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $22,750,000
- Address: 31 Brooklyn Ave
- Market: Crown Heights
- Loan Type: Refinance
The refinancing deal was facilitated by Vincent Spero, Doug Joyce, and Doug Kennedy from Peapack Gladstone Bank, who acted as the lenders. Cheskie Weisz and Yaakov Klein served as the landlords of the property.
The transaction was handled by Leah Paskus and Michael Wittow from Landstone Capital, who acted as the brokers in this deal.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$22,750,000.00
Monthly NOI$151,666.67
Monthly Debt Service$143,795.48
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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