facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Mixed Use

/

Loan

/

1620 New York Avenue, Brook...

Bravo Capital Provides $23M Bridge Loan For Mixed-Use Property In Flatbush, Brooklyn
FINANCEDMixed-use

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

Henry Bodek

Galaxy Capital

Broker

$12.3B

vol

69 deals

Broker
Bravo Capital
Bravo CapitalLender

Joel Jacob

Skybrook Capital

Landlord

$63.5M

vol

10 deals

Landlord

New York Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

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