Bravo Capital Provides $23M Bridge Loan For Mixed-Use Property In Flatbush, Brooklyn
1620 New York Avenue, Brooklyn, New York 11210, United States
$23,000,000
$708/SF
Building Size
32,453 SF
Asset Type
Mixed-use
Closing
Feb 28, 2022
AI
The mixed-use property located at 1620 New York Avenue in Flatbush, Brooklyn has recently undergone a closed transaction. Spanning a total of 32,453 square feet, this property comprises 54 units, making it a valuable asset in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $23,000,000
- Address: 1620 New York Avenue, Flatbush, Brooklyn
- Market: Flatbush, Brooklyn
- Square Footage: 32,453
- Units: 54
In this transaction, Bravo Capital, represented by Aaron Krawitz, provided a bridge loan of $23,000,000. Joel Jacob acted as the landlord in this deal. Meanwhile, the brokerage services were handled by Henry Bodek from Galaxy Capital.
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
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93