East Group Capital Acquires Mixed-Use Property In Boerum Hill, Brooklyn For $4.15M
FINANCED
$6,492,830
New York
See Similar DealsMixed-use12,772 SF
Financed 07/07/2020
FINANCED
East Group Capital Acquires Mixed-Use Property In Boerum Hill, Brooklyn For $4.15M
328 Atlantic Ave, Brooklyn, NY 11201, USA
See Similar DealsMixed-use12,772 SF
Financed 07/07/2020
Summary
NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$508
Total Square Footage:12,772 SF
Transaction Type:Loan
A mixed-use property located at 328 Atlantic Ave in Boerum Hill, Brooklyn has been involved in a recent closed transaction. The property, which spans 12,772 square feet, consists of 5 units. The deal was supported by a loan provided by Bayport Funding in the amount of $6,492,830. The property's landlord is East Group Capital.
Summary of transaction details
- Property Type: Mixed-use
- Transaction Amount: $6,492,830
- Address: 328 Atlantic Ave
- Market: Boerum Hill, Brooklyn
- Square Footage: 12,772
- Units: 5
It is worth noting that East Group Capital purchased this building for $4.15 million in 2019. Furthermore, the developer plans to add 4 additional floors to the property.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$6,492,830.00
Monthly NOI$43,285.53
Monthly Debt Service$41,039.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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