Stormfield Capital Provides $6.75M Bridge Loan For Mixed-Use Property In Brooklyn
500 Nostrand Avenue
$6,750,000
$110/SF
Building Size
61,380 SF
Asset Type
Mixed-use
Closing
Jan 6, 2023
About this deal
AI
The property involved in this closed transaction is a mixed-use asset located at 500 Nostrand Avenue in Brooklyn. It spans a total area of 61,380 square feet. The transaction took place on 01/06/2023.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $6,750,000
- Lender: Stormfield Capital - Kyle Shea & Callahan T. Healy
- Landlord:
- Broker: Marcus & Millichap
- Loan Type: Bridge
The lender, Stormfield Capital, provided a bridge loan of $6,750,000 for the transaction. The property's landlord is , and the deal was facilitated by Marcus & Millichap. Kyle Shea and Callahan T. Healy of Stormfield Capital acted as the lenders' representatives in this transaction.
Players
Brooklyn, NY 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
2.35%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93