Meridian Capital Group Facilitates $83M Loan For Acquisition Of 2802-2816 Frederick Douglass Boulevard In NYC
2802 Frederick Douglass Blvd New York, NY 10039, USA
$83,000,000
$190/SF
Building Size
436,115 SF
Asset Type
Other
Closing
Jun 2, 2023
AI
The recently closed transaction involved the acquisition of residential apartment buildings located at 2802-2816 Frederick Douglass Boulevard in New York City. The property spans a total area of 436,115 square feet and comprises a total of 537 units. The market value of this asset is currently undisclosed.
Summary of transaction details
- Property Type: Residential Apartment Buildings
- Transaction Amount: $83,000,000
- Loan Type: Acquisition
The deal was facilitated by Morris Betesh, Jack McPhail, and Israel Mermelstein of the Meridian Capital Group, who represented the parties involved in the transaction as brokers.
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.19%
Cash-on-Cash
-0.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93