Conway Capital Acquires Mixed-use Property In Brooklyn For $6.85M With Acquisition Loan From Derby Copeland
214 Atlantic Avenue, Brooklyn, NY, USA
$6,850,000
$1,141/SF
Building Size
6,000 SF
Asset Type
Mixed-use
Closing
Dec 30, 2020
About this deal
AI
Conway Capital Partners has recently completed its 16th purchase of 2020 with the acquisition of a mixed-use property located at 214, 216, 218 Atlantic Avenue in Brooklyn. The transaction was secured through an acquisition loan provided by Derby Copeland. The loan amount was $6,850,000.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,850,000
- Address: 214, 216, 218 Atlantic Avenue
- Market: Brooklyn
The deal was brokered by Robert Tobias of RJT Capital Partners, representing Conway Capital Partners. For more information about this transaction, interested parties can reach out directly to Max at Conway Capital Partners ([email protected]) or Connor at Conway Capital Partners ([email protected]).
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
2.32%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93