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429 Kent Avenue

Jeffrey Wolfer Of Silver Arch Capital Partners Provides $14.5M Bridge Loan For Brooklyn Condo Units
FINANCEDCondo

Jeffrey Wolfer Of Silver Arch Capital Partners Provides $14.5M Bridge Loan For Brooklyn Condo Units

429 Kent Avenue

$14,500,000

Building Size

Asset Type

Condo

Closing

Feb 18, 2025

AI

The asset involved in this transaction is a condo located at 429 Kent Avenue in New York City. The loan amount secured for this property is $14,500,000.00, facilitated as a bridge loan.

Summary of transaction details:

This deal includes the involvement of Steven Weiss from EXP Realty representing the interests associated with the transaction. The lender, Silver Arch Capital Partners, played a crucial role in providing the necessary financing for this condominium deal.

Players

Steven Weiss

EXP Realty

Broker

$47M

vol

2 deals

Broker

Brooklyn Condo Market Snapshot

Boundary boundary · Condo · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.09%

Cash-on-Cash

-0.31%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93