Arie Bar Chaim Secures $5.8M Refinancing Loan For 10-Unit Condo Project - 68 Eldert St, Bushwick
68 Eldert Street Brooklyn, New York 11207, USA
$5,850,000
Building Size
—
Asset Type
Condo
Closing
Mar 8, 2023
AI
Arie Bar Chaim secured a $5.8 million refinancing loan from White Oak Financial for a 10-unit condominium project located at 68 Eldert Street in Bushwick, Brooklyn. The property is a condo with 10 units and is situated in the Bushwick market area of Brooklyn.
Summary of transaction details
- Property Type: Condo
- Transaction Amount: $5,850,000
- Address: 68 Eldert Street
- Market: Bushwick, Brooklyn
- Lender: White Oak Financial - Ian Axelrod
- Landlord: Arie Bar Chaim
- Loan Type: Refinance
The loan was provided by White Oak Financial, with Ian Axelrod serving as the representative from the lending company. Arie Bar Chaim, the landlord, obtained the refinancing loan to support the 10-unit condominium project at 68 Eldert Street in Bushwick, Brooklyn.
Players
New York 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
2.71%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93