Updated Dec 4, 2024
M&T Bank Provides $73M Loan For Multifamily Property In Prospect Heights, Brooklyn
615 Dean St, Brooklyn, NY 11238, USA
$73,000,000
Building Size
—
Asset Type
Single Family Residence
Closing
May 27, 2019
About this deal
AI
Fred Elghanayan and Tom Elghanayan closed a transaction on May 28, 2019, involving a multifamily property located at 615 Dean Street in Prospect Heights, Brooklyn. The property was financed by M&T Bank for a loan amount of $73,000,000. The landlord of the property is TFCornerstone.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $73,000,000
- Lender: M&T Bank
- Landlord: @TFCornerstone
- Address: 615 Dean Street
- Market: Prospect Heights, Brooklyn
Fred Elghanayan and Tom Elghanayan, representing their respective agency, were the key individuals in this deal.
Players
New York Single Family Residence Market Snapshot
Boundary boundary · Single Family Residence · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93