Meridian Capital Group Facilitates $83M Loan For Acquisition Of 2802-2816 Frederick Douglass Boulevard In NYC
FINANCED
$83,000,000
New York
See Similar DealsOther436,115 SF
Financed 06/02/2023
FINANCED
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
See Similar DealsOther436,115 SF
Financed 06/02/2023
Summary
NEW YORK
Asset Type:Other
Price Per Square Foot:$190
Total Square Footage:436,115 SF
Transaction Type:Loan
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.
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Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$83,000,000.00
Monthly NOI$553,333.33
Monthly Debt Service$524,616.46
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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