Cammeby’s signs $81.45M refi with NewPoint for rental in Brooklyn, Queens

Cammeby’s International Group signed $81.45 million in refinance loans with NewPoint for three rental buildings in Brooklyn and Queens in three separate transactions. These loans are on top of $201.4 million that NewPoint provided to Cammeby’s in deals recorded earlier this week.

In the first, Cammeby’s International Group through the entity Southhampton Apartments Del LLC as borrower signed a refi loan with lender NewPoint through the entity Newpoint Real Estate Capital LLC valued at $34 million for the 263-unit rental (D1) at 1429 Shore Parkway in Bath Beach, Brooklyn.
The deal closed on October 29, 2021 and was recorded on November 17, 2021.
The property has 257,300 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $132 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, agent. The business entities are Apt Mgmt Assoc Llc and Southhampton Apts Del Llc.

Direct link to Acris document. link

In the second, Cammeby’s International Group through the entity Sussex Apartments Asssociates Del LLC as borrower signed a refi loan with lender NewPoint through the entity Newpoint Real Estate valued at $26.6 million for the 189-unit rental (D3) at 166-05 Highland Avenue in Jamaica Hills, Queens.
The deal closed on October 29, 2021 and was recorded on November 17, 2021.
The property has 199,100 square feet of built space according to PincusCo analysis of city data. The loan price per built 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 owner bought the property on May 4, 2004, for $23.2 million.
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 Gary Flippen, site manager. The business entities are Ama Llc and Sussex Apartments Assoc. Del Llc.

Direct link to Acris document. link

In the third, Cammeby’s International Group through the entity Nautilus Apartments Del LLC as borrower signed a refi loan with lender NewPoint through the entity Newpoint Real Estate Capital LLC valued at $20.8 million for the 145-unit rental (D1) at 1230 Avenue Y in Sheepshead Bay, Brooklyn.
The deal closed on October 29, 2021 and was recorded on November 17, 2021.
The property has 151,800 square feet of built space according to PincusCo analysis of city data. The loan price per built square foot is $137 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 owner bought the property on May 4, 2004, for $14.6 million.
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, agent. The business entities are Apt.Mgmt Assoc Llc and Nautilus Apartments Del Llc.
Within a 400-foot radius of 1230 Avenue Y, Pincusco identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which Atlantic Towers cooperative borrowed $11.4 million from New York Community Bank secured by the 115,842-square-foot, 115-unit co-op (D4) on 2546 East 13th Street and two other properties on July 10, 2020.

Direct link to Acris document. link