Stormfield Capital Provides $2.21M Acquisition Loan For Mixed-Use Property In Williamsburg, Brooklyn
222 Manhattan Avenue, Brooklyn, NY 11206
$2,210,000
$454/SF
Building Size
4,867 SF
Asset Type
Mixed-use
Closing
Jan 19, 2022
About this deal
AI
The mixed-use property located at 222 Manhattan Avenue in Williamsburg, Brooklyn has recently undergone a closed transaction. The property spans 4,867 square feet, making it a versatile asset in the market.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $2,210,000
- Date: 01/19/2022
- Address: 222 Manhattan Avenue
- Market: Williamsburg, Brooklyn
- Loan Type: Acquisition
- Loan Amount: $2,210,000
- Loan Terms: 80% of the acquisition, plus capex
- Lender: Stormfield Capital
- Landlord: Dimerys Paulino Santos & Johnny Cruz
- Broker: Sage Usher - Leviathan Capital
Sage Usher from Leviathan Capital played a key role in the transaction as the broker representing the buyer or seller. Their expertise and connections in the market helped facilitate the deal.
On the Map
$2,210,000
$454/SF
Mixed-use
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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
7.18%
Cash-on-Cash
-2.05%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93