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Stormfield Capital Provides $2.21M Acquisition Loan For Mixed-Use Property In Williamsburg, Brooklyn

Property Image
FINANCED
$2,210,000

New York

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Mixed-use4,867 SF
Financed 01/19/2022
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Property Image
FINANCED

Stormfield Capital Provides $2.21M Acquisition Loan For Mixed-Use Property In Williamsburg, Brooklyn

222 Manhattan Avenue, Brooklyn, NY 11206

See Similar Deals
Mixed-use4,867 SF
Financed 01/19/2022
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$454
Total Square Footage:4,867 SF
Transaction Type:Loan

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.

Players

Sage Usher
6 deals$11M volume
BROKER

Leviathan Capital
BROKERAGE

Details

FINANCED
IMAGE: Sage Usher DATE: 01/19/2022 ADDRESS: 222 Manhattan Avenue MARKET: Williamsburg, Brooklyn ASSET TYPE: Mixed-use ~ SF: 4,867 LENDER: Stormfield Capital LANDLORD: Dimerys Paulino Santos & Johnny Cruz BROKER: Sage Usher - Leviathan Capital (@LeviathanCapital) LOAN AMOUNT: $2,210,000 LOAN TYPE: Acquisition LOAN TERMS: 80% of the acquisition, plus capex.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$2,210,000.00

Monthly NOI$14,733.33
Monthly Debt Service$13,968.70
Change in Cash Flow$0.00
Refinance Proceeds$0.00