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

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FINANCED
$1,000,000

New York

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Mixed-use3,177 SF
Financed 05/11/2021
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Property Image
FINANCED

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

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

See Similar Deals
Mixed-use3,177 SF
Financed 05/11/2021
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$314
Total Square Footage:3,177 SF
Transaction Type:Loan

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
46 deals$308.6M volume(917) 574-3810
BROKER

Evan Boles
Progress Capital
15 deals$42.5M volume
BROKER

Bert R. Dweck
Hirshmark Capital
23 deals$105.8M volume
BROKER

Rosewood Realty Group
BROKERAGE

Details

FINANCED
IMAGE: Abe Mann, @Bert_Dweck & @EvanBoles_ DATE: 05/11/2021 ADDRESS: 567 Nostrand Avenue MARKET: Crown Heights ASSET TYPE: Mixed-use LENDER: Bert R. Dweck - @HirshmarkCapital LANDLORD: Otto Streicher BROKERS: Abe Mann & Evan Boles - Progress Capital @Progress.Capital LOAN AMOUNT: $1,000,000 NOTE FROM @Progress.Capital: Contact Abe or Evan to discuss your CRE financing needs.⠀ Abe: 917-574-3810, [email protected]⠀ Evan: 732-539-5461, [email protected]

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$1,000,000.00

Monthly NOI$6,666.67
Monthly Debt Service$6,320.68
Change in Cash Flow$0.00
Refinance Proceeds$0.00