Augustine Real Estate Partners Secures $6.12M Loan For Park Slope Condo
114 6th Avenue, Park Slope, Brooklyn, NY, USA
$6,120,000
$690/SF
Building Size
8,866 SF
Asset Type
—
Closing
Nov 23, 2020
About this deal
AI
The closed transaction in Park Slope involved a condominium located at 114 6th Avenue. The property, with a size of 8,866 square feet, was acquired by a buyer with the assistance of Augustine Real Estate Partners. Tameer Orevi from Patch of Land Lending served as the broker representative in securing the loan for this transaction. The loan amount for the deal was $6,120,000, with a term of 18 months.
Summary of transaction details:
- Property Type: Condo
- Transaction Amount: $6,120,000
- Address: 114 6th Avenue
- Market: Park Slope
- Asset Type: Condo
The buyer in this transaction sought financial support from Patch of Land Lending through their representative, Tameer Orevi. Augustine Real Estate Partners assisted in the acquisition of the condominium in Park Slope, which spans 8,866 square feet. The loan agreement had a term of 18 months and a value of $6,120,000.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.59%
Cash-on-Cash
-0.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93