Madison Realty Capital Provides $26M Bridge Loan For 1520 Fulton Street Mixed-Use Property In Bedford-Stuyvesant
1520 Fulton Street, Bedford-Stuyvesant, Brooklyn, NY, USA
$26,000,000
$353/SF
Building Size
73,519 SF
Asset Type
Mixed-use
Closing
Apr 22, 2021
About this deal
AI
The mixed-use property located at 1520 Fulton Street in Bedford-Stuyvesant has recently undergone a closed transaction. This property spans a total of 73,519 square feet and consists of 49 units. The transaction took place on 04/23/2021.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $26,000,000
- Market: Bedford-Stuyvesant
- Loan Type: Bridge Loan for Transitional Lease Up
- Lender: Madison Realty Capital - Josh Zegen
The loan for this transaction was provided by Madison Realty Capital, with Josh Zegen representing the lender. The loan amount was $26,000,000, and it was specifically a bridge loan designed for the transitional lease up of the property.
Players
New York Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93