Clipper Realty Acquires Multifamily Property In East Flatbush For $329M

1403 New York Avenue

MultiFamily

800 SF

Summary

Loan

NEW YORK

MultiFamily

800 sqft

A multifamily property located at 1403 New York Ave in East Flatbush has been involved in a closed transaction. The property consists of 2,500 units and is owned by Clipper Realty.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $329,000,000
Loan Amount: $329,000,000
Loan Terms: 12 years
Lender: New York Community Bank
Landlord: Clipper Realty
Units: 2,500

New York Community Bank provided a loan of $329,000,000 for a period of 12 years. The transaction involved Clipper Realty as the landlord.

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Details

Deal Summary

FINANCED

IMAGE: David Bistricer DATE: 05/12/2020 ADDRESS: 1403 New York Ave MARKET: East Flatbush ASSET TYPE: Multifamily LENDER: New York Community Bank LANDLORD: Clipper Realty LOAN AMOUNT: $329,000,000 LOAN TERMS: 12 years UNITS: 2,500

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Address1403 New York Avenue

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