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
$22,750,000
$437/SF
Building Size
52,000 SF
Asset Type
MultiFamily
Closing
Mar 10, 2022
AI
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
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.70%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93