Gang Li Secures $7 Million Bridge Loan For Mixed-Use Asset At 643 Fifth Avenue Brooklyn
643 Fifth Avenue
$7,000,000
$274/SF
Building Size
25,489 SF
Asset Type
Mixed-use
Closing
Sep 3, 2025
AI
The property involved in this transaction is a mixed-use asset located at 643 Fifth Avenue in Brooklyn, comprising a total square footage of 25,489 and featuring 21 units.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $7,000,000
- Loan Type: Bridge
- Loan Terms: 18 Months
- Lender: Matt Schatzle - Fisher Island Capital
- Landlord: Gang Li
- Broker: Jason Au
The deal was managed by broker Jason Au, who played a crucial role in navigating a tight deadline for the sponsor. Within 2.5 weeks, a competitive bridge loan was secured, allowing the transaction to close successfully and on time due to the urgency of the situation.
Players
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
2.27%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93