Updated Sep 5, 2024
Freddie Mac Provides $2.38M Refinance Loan For Bridgeport Multifamily Property
729 Stillman Street, Bridgeport, Connecticut 06608, United States
$2,380,000
Units
18
Asset Type
MultiFamily
Closing
Oct 31, 2022
About this deal
AI
The recently closed property transaction in Bridgeport, CT involves three multifamily properties located at 729 Stillman St, 743 Stillman St, and 359 Nichols St. The properties together consist of 18 units, making it an attractive investment opportunity in the rental market of Bridgeport.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,380,000
- Loan Type: Refinance
- Loan Terms: 75% LTV, 5.25% Fixed for 5 Years, Par, Stepdown, Rate Locked at LOI
- Landlord: Menahem Lebenhartz
- Lender: Freddie Mac
- Broker: Abe Mann - Rosewood Realty Group
The loan for this transaction was provided by Freddie Mac, a well-known lender in the real estate industry. The landlord, Menahem Lebenhartz, secured the refinancing loan for the properties. The broker representing the deal was Abe Mann from Rosewood Realty Group.
FORMAT: PARAGRAPH: SUMMARY:Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $2,380,000
Bridgeport MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.67%
Cash-on-Cash
-1.90%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93