Updated Nov 27, 2024
Pasquale DeBenedictis Secures $62.1M Refinance Loan For Nursing Home At 520 Prospect Place In Crown Heights Brooklyn
520 Prospect Place Brooklyn, New York 11238, USA
$62,100,000
$525/SF
Building Size
118,230 SF
Asset Type
Nursing Home
Closing
May 1, 2023
About this deal
AI
Pasquale DeBenedictis secured a refinancing loan of $62.1 million from Berkadia Commercial Mortgage for the nursing home building located at 520 Prospect Place in Brooklyn's Crown Heights. The property is a nursing home with a total square footage of 118,230.
Summary of transaction details
- Property Type: Nursing Home
- Transaction Amount: $62,120,000
- Address: 520 Prospect Place
- Market: Crown Heights, Brooklyn
- Loan Type: Refinance
- Lender: Berkadia Commercial Mortgage
- Landlord: Pasquale DeBenedictis
- BSF: 152,292
Pasquale DeBenedictis secured the refinancing loan from Berkadia Commercial Mortgage, enabling him to continue operating the nursing home at 520 Prospect Place in Brooklyn's Crown Heights.
Players
New York Nursing Home Market Snapshot
Boundary boundary · Nursing Home · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.26%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93