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Webster Bank Refinances Multifamily Property In Crown Heights For $21M

550 Prospect Place
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This MultiFamily property located in NY received a loan of $21,000,000 almost 2 years ago.

The multifamily property located at 550 Prospect Place in Crown Heights has recently undergone a refinancing transaction. With a total square footage of 46,359 and consisting of 41 units, this property offers significant investment potential.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $21,000,000
  • Address: 550 Prospect Place
  • Market: Crown Heights
  • Lender: Webster Bank
  • Landlord: CAVU Property Group

Webster Bank played a crucial role in the transaction as the lender, providing the necessary financing to support the refinancing. The landlord, CAVU Property Group, initiated the deal, recognizing the opportunity to optimize their investment in this multifamily property.

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  • Location
    550 Prospect Place, Brooklyn, New York 11238, United States550 Prospect Place, Brooklyn, New York 11238, United States
  • Loan Value
    $21,000,000$21,000,000
  • Asset Type
    MultiFamilyMultiFamily

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Deal Summary

LOAN DATE: 04/07/2022 ADDRESS: 550 Prospect Place MARKET: Crown Heights ASSET TYPE: Multifamily ~ SF: 46,359 ~ UNITS: 41 LENDER: Webster Bank (@WebsterBank) LANDLORD: CAVU Property Group LOAN AMOUNT: $21,000,000 LOAN TYPE: Refinance

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