Treetop Development Secures $120.8M Loan For Far Rockaway Multifamily
711 Seagirt Avenue
MultiFamily
201,813 SF
201,813 SF
Financed 1 year ago
Summary
Treetop Development has closed on a multifamily property located at 711 Seagirt Avenue in the Far Rockaway market. The property consists of 917 units and was acquired with a loan amount of $120,780,000. The loan terms include a 10 year term with 5 years of interest-only payments and a 3.45% interest rate. berkadia''>Berkadia provided the financing for this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $120,780,000
- Address: 711 Seagirt Avenue
- Market: Far Rockaway
- Units: 917
- Loan Terms: 10 year term with 5 years IO, 3.45% rate
- Lender: Berkadia
- Landlord: Treetop Development
- Brokers: Isaac Lifshitz and Thomas Wayda @Meridian.Capital.Group
Adam Mermelstein, Azi Mandel, Isaac Lifshitz, and Michael Shmuely were involved in the transaction as representatives for their respective parties.
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711 Seagirt Avenue
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