FINANCED
Residential Development Group Secures $16.3M Loan For Brooklyn Multifamily With NYCB As Lender
782 New York Avenue
MultiFamily
6,913 SF
6,913 SF
Financed 1 year ago
Summary
Loan
NEW YORK
MultiFamily
6,913 sqft
Located at 782 New York Ave., this multifamily property in Brooklyn was involved in a recent closed transaction. The property is owned by Kamran Neman and Joseph Azizian of Residential Development Group, a vertically integrated real estate investment firm specializing in residential and mixed-use properties in the NY Metro area. With a history of developing and rehabilitating over 500 projects, Residential Development Group continues to seek new ground-up development and value-add opportunities in the Tri-state area.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $16.3M
- Market: Brooklyn
Facilitating the deal were the brokers David Oheb and Michael Neumann from Meridian Capital Group. Meridian Capital Group is a leading commercial mortgage brokerage firm and has closed $40B in financing with various lenders across different property types. The firm has extensive experience in multifamily lending and is known for its ability to add value to portfolios. For more information, contact David Oheb at [email protected] or Michael Neumann at [email protected].
Players
All
4
Agents
2
Agencies
1
Lenders
1
Details
FINANCED
IMAGE: Kamran Neman, Joseph Azizian, David Oheb & Michael Neumann
DATE: 05/2021
ADDRESS: 782 New York Ave.
MARKET: Brooklyn ~ ASSET TYPE: Multifamily
LENDER: NYCB
LANDLORD: Kamran Neman (@K_Rock007) & Joseph Azizian (@JoeAzizian) - Residential Development Group
BROKER: David Oheb (@TeamOheb) & Michael Neumann (@YmNeumann) - Meridian Capital Group
LOAN AMOUNT: $16.3M.3
TERM: 3.05% interest rate, 5yr fixed, maximum cash-out refinance – recaptured OVER 100% of the borrower’s cost basis in the project
NOTE FROM LANDLORD: Founded in 2001 by Kamran Neman & Joseph Azizian, Residential Development Group is a vertically integrated real estate investment firm specializing in the ground-up development of residential and mixed-use properties in the NY Metro area. The firm has developed and rehabilitated over 500 projects in its history, and will be completing construction of an additional 60 resi units in the next 12 months. Residential Development Group is actively seeking new ground-up development and value-add opportunities throughout the Tri-state area, please contact 📧 [email protected] with any opportunities.
NOTE FROM MERIDIAN: Meridian Capital Group is America’s most active dealmaker, having closed $40B in financing (2020) with more than 250 unique lenders across all property types, including multifamily, office, retail, hotel, mixed-use, industrial, healthcare and senior housing, and construction. Meridian represents many of the world’s leading real estate investors and developers and has been consistently ranked as the top commercial mortgage brokerage firm in the country for multifamily lending by the Mortgage Bankers Association. For more information on how Meridian can add value to your portfolio please contact:
👤David Oheb
📱 212-612-0193
📧 [email protected]
👤Michael Neumann
📱 646-502-3428
📧 [email protected]View on map
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Address782 New York Avenue
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