Nir Mor Of Hanover Capital NY Provides $5 Million Bridge Loan For Greenpoint Condo Inventory
FINANCED
$5,000,000
New York
See Similar DealsCondo7,800 SF
Financed 07/10/2025
FINANCED
Nir Mor Of Hanover Capital NY Provides $5 Million Bridge Loan For Greenpoint Condo Inventory
Condo7,800 SF
Financed 07/10/2025
Summary
Asset Type:Condo
Price Per Square Foot:$641
Total Square Footage:7,800 SF
Transaction Type:Loan
The property asset involved is a condo inventory located in Greenpoint, Brooklyn, with a square footage of 7,800. The loan amount for this property is set at $5,000,000, and it is categorized as a bridge loan.
Summary of transaction details:
- Property Type: Condo Inventory
- Transaction Amount: $5,000,000
- Asset Size: 7,800 SF
- Lender: Nir Mor - Hanover Capital NY
- Loan Type: Bridge
- Date: 7/11/2025
- Market: Greenpoint, Brooklyn
The key individuals in this transaction include Nir Mor, who represents Hanover Capital NY as the lender for the loan agreement concerning the condo inventory. This arrangement signifies a strategic financial move within the Brooklyn real estate market.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,000,000.00
Monthly NOI$33,333.33
Monthly Debt Service$31,603.40
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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