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567 Nostrand Avenue, Crown ...

Progress Capital Brokers $1M Loan For Mixed-use Property In Crown Heights
FINANCEDMixed-use

Progress Capital Brokers $1M Loan For Mixed-use Property In Crown Heights

567 Nostrand Avenue, Crown Heights, Brooklyn, NY, USA

$1,000,000

$314/SF

Building Size

3,177 SF

Asset Type

Mixed-use

Closing

May 10, 2021

AI

567 Nostrand Avenue in Crown Heights has recently been involved in a closed transaction. The mixed-use property was the center of attention in this deal.

Summary of Transaction Details:

  • Property Type: Mixed-use
  • Transaction Amount: $1,000,000
  • Market: Crown Heights
  • Lender: Bert R. Dweck of irshmarkCapital
  • Landlord: Otto Streicher
  • Brokers: Abe Mann and Evan Boles of Progress Capital

Bert R. Dweck of irshmarkCapital provided the loan amount of $1,000,000 to facilitate this transaction. The property's landlord, Otto Streicher, played a significant role in the deal. Representing the parties involved were brokers Abe Mann and Evan Boles of Progress Capital.

If you're interested in discussing your commercial real estate financing needs, reach out to Abe Mann at 917-574-3810 or [email protected]. Evan Boles can also be contacted at 732-539-5461 or [email protected].

Players

Abe Mann

Hudson Atlantic Capital

Broker

$308.6M

vol

46 deals

Broker
Rosewood Realty Group
Rosewood Realty GroupBrokerage
Hirshmark Capital
Hirshmark CapitalLender

New York 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

15.86%

Cash-on-Cash

-4.53%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93