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Rcubed Real Estate Lends $1.65M Bridge Loan For 335 Court Street In Carroll Gardens

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FINANCED
$1,650,000

New York

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Mixed-use3,600 SF
Financed 02/20/2024
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Property Image
FINANCED

Rcubed Real Estate Lends $1.65M Bridge Loan For 335 Court Street In Carroll Gardens

335 Court Street

See Similar Deals
Mixed-use3,600 SF
Financed 02/20/2024
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$458
Total Square Footage:3,600 SF
Transaction Type:Loan

The mixed-use property located at 335 Court Street in Carroll Gardens, Brooklyn, spans 3,600 square feet. The loan for this property was facilitated by Lawrence Rosenblum from Rcubed Real Estate, with a total amount of $1,650,000 being provided as bridge financing.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,650,000
  • Address: 335 Court Street
  • Market: Carroll Gardens, Brooklyn
  • Lender: Lawrence Rosenblum - Rcubed Real Estate
  • Landlord: Michael Joseph
  • Loan Type: Bridge

Rcubed Real Estate, the lending entity for this deal, prides itself on its efficiency, offering quick closings within 7 days from the signing of the term sheet. Lawrence Rosenblum emphasized that Rcubed Real Estate is a direct balance sheet lender operating actively in NYC. Additionally, the lender is open to engaging with brokers and direct lenders for potential collaboration and growth opportunities, encouraging interested parties to reach out for further discussions.

Players

LENDER

Details

FINANCED
IMAGE: Lawrence Rosenblum DATE: 02/20/2024 ADDRESS: 335 Court Street MARKET: Carroll Gardens, Brooklyn ASSET TYPE: Mixed-use ~ SF: 3,600 LENDER: Lawrence Rosenblum - Rcubed Real Estate LANDLORD: Michael Joseph LOAN AMOUNT: $1,650,000 LOAN TYPE: Bridge NOTE FROM LENDER: Rcubed Real Estate is a direct balance sheet lender aggressively lending in NYC. We can close in 7 days from term sheet signing, a true old-school New York City lender. First position Second position Note on Note financing A/B structure Brokers and direct lenders please reach out. We are always looking to grow our brokerage and direct lending relationships. You can reach out to us at 917-423-2402 or [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,650,000.00

Monthly NOI$11,000.00
Monthly Debt Service$10,429.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00