Jeffrey Wolfer Of Silver Arch Capital Partners Provides $14.5M Bridge Loan For Brooklyn Condo Units
429 Kent Avenue
$14,500,000
Units
216
Asset Type
Condo
Closing
Feb 18, 2025
About this deal
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:
- Property Type: Condo
- Transaction Amount: $14,500,000.00
- Date of Loan: 02/18/2025
- Lender: Silver Arch Capital Partners
- Broker: Steven Weiss (EXP Realty)
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.
On the Map
$14,500,000
Condo
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Players
Brooklyn Condo Market Snapshot
Boundary boundary · Condo · Loan transactions
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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