Cammeby’s signs $201.4M refis with NewPoint for 1,679 units in NYC

Cammeby’s International Group signed $201.4 million in refinance loans with NewPoint for 1,679 units in three separate transactions.

In the largest, Cammeby’s International Group through the entity Shore Havens Apartments Del LLC as borrower signed a refi loan with lender NewPoint through the entity NewPoint Real Estate Capital LLC valued at $157 million for three rentals including the 462-unit rental (D1) at 8831 20th Avenue in Bath Beach, Brooklyn, 462-unit rental (D1) at 1483 Shore Parkway in Bath Beach, Brooklyn, and 420-unit rental (D1) at 2064 Cropsey Avenue in Bath Beach, Brooklyn.
The deal closed on October 29, 2021 and was recorded on November 16, 2021.
The three properties have 1,021,970 square feet of built space and 155,118 square feet of additional air rights for a total buildable of 1,177,456 square feet according to PincusCo analysis of city data. The loan price per built square foot is $153 and the price per buildable square foot is $133 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Cammeby’s International Group was Eli Schron.

The owners according to the Department of Housing Preservation and Development includes Jay Rosenfeld, head officer and Jay Rosenfeld, head officer. The business entity is Shore Haven Apartments Del Llc.

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In the second, Cammeby’s International Group through the entity Lawrence Gardens Apartments Del LLC as borrower signed a refi loan with lender NewPoint through the entity NewPoint Real Estate Capital LLC valued at $27.3 million for two properties including the 214-unit rental (D1) at 3301 Nostrand Avenue in Sheepshead Bay, Brooklyn and industrial (Q3) at 2945 Avenue T in Sheepshead Bay, Brooklyn.
The deal closed on October 29, 2021 and was recorded on November 16, 2021.
The two properties have 180,778 square feet of built space and 2,520 square feet of additional air rights according to PincusCo analysis of city data. The loan price per built square foot is $150 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Cammeby’s International Group was Eli Schron.

The owners according to the Department of Housing Preservation and Development includes Jay Rosenfeld, head officer and Chaim Gross, site manager. The business entity is Lawrence Gardens Apts Del Llc.
FALSE

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In the third, Cammeby’s International Group through the entity Wexford Apartments Del LLC as borrower signed a refi loan with lender NewPoint through the entity NewPoint Real Estate Capital LLC valued at $17.1 million for the 121-unit rental (D1) at 86-75 Midland Parkway in Jamaica Estates, Queens.
The deal closed on October 29, 2021 and was recorded on November 16, 2021.
The property has 102,108 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $167 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Cammeby’s International Group was Eli Schron.

The owners according to the Department of Housing Preservation and Development includes Jay Rosenfeld, head officer and Peter Lepore, site manager. The business entity is Wexford Apartments Del Llc.
Within a 400-foot radius of 86-75 Midland Parkway, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Roy Moussaieff borrowed $5.7 million from IberiaBank secured by one condo unit in the N/A-square-foot, one-unit office building (RB) on 86-57 Midland Parkway and one other property on December 4, 2020.

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