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507 Myrtle Avenue

Morris Dweck Of KSR Arranges $2.2M Acquisition Loan For Thrive Management NY In Clinton Hill
FINANCEDMixed-use

Morris Dweck Of KSR Arranges $2.2M Acquisition Loan For Thrive Management NY In Clinton Hill

507 Myrtle Avenue

$2,200,000

$586/SF

Building Size

3,750 SF

Asset Type

Mixed-use

Closing

Jun 4, 2025

AI

The property involved in this transaction is a mixed-use asset located at 507 Myrtle Avenue in the Clinton Hill market, with a total square footage of 3,750. The acquisition loan amount secured is $2,200,000, structured with terms of 5 years and a 30-year amortization period, alongside a rate of 2.75 bps over the 5-year UST.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $2,200,000
  • Loan Type: Acquisition
  • Loan Terms: 5 years / 30-year amortization, 2.75 bps over 5-year UST
  • Address: 507 Myrtle Avenue
  • Market: Clinton Hill
  • Landlord: Thrive Management NY
  • Broker: Morris Dweck - KSR

Morris Dweck of KSR Capital facilitated the acquisition loan for a client engaged in a 1031 exchange concerning the mixed-use property. Dweck's efforts successfully identified a lender who allowed for a cannabis tenant to occupy one of the retail spaces on the ground floor.

Players

Morris Dweck

Kassin Sabbagh Realty

Broker

$382.3M

vol

32 deals

Broker
Kassin Sabbagh Realty
Kassin Sabbagh RealtyBrokerage

Brooklyn Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

7.21%

Cash-on-Cash

-2.06%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93