Chen Lin Secures $2.55 Million Refinance Loan From Pretium Partners For 100 Sullivan Street Land
100 Sullivan Street
$2,550,000
$810/SF
Building Size
3,148 SF
Asset Type
Land
Closing
Sep 30, 2026
About this deal
AI
The asset involved in this transaction is a land property located at 100 Sullivan Street, Brooklyn, with a square footage of 3,148. The loan amount secured for this property totals $2,550,000 as part of a refinance deal.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $2,550,000
- Lender: Pretium Partners
- Borrower: Chen Lin
- Loan Type: Refinance
- Loan-to-Value Ratio: 75%
- Interest Rate: 8.75%
- Loan Duration: 12-Month Bridge Loan
- Closure Time: Closed in 15 Business Days
- Brokers: Roy Oskar & Quinn Hukee - Bridge Advisory Group
Roy Oskar and Quinn Hukee were instrumental in structuring and arranging a cash-out refinance for the borrower, addressing a requirement for additional time and liquidity due to an approaching loan maturity. By utilizing a bridge on bridge financing structure secured by a newly constructed building, they provided essential proceeds to support the execution of the borrower's business plan.
On the Map
$2,550,000
$810/SF
Land
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Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
6.22%
Cash-on-Cash
-1.78%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93