Dr. Ezra Dori & Dr. Robert Klinger Refinance Mixed-Use Property In Brooklyn For $2.75M
685 Myrtle Avenue, Brooklyn, New York 11205, United States
$2,750,000
$275/SF
Building Size
10,000 SF
Asset Type
Mixed-use
Closing
Feb 27, 2022
About this deal
AI
The mixed-use property located at 685 Myrtle Ave. & 5724 New Utrecht Ave. in Brooklyn has been involved in a recent loan transaction. The property spans approximately 10,000 square feet and is owned by Dr. Ezra Dori and Dr. Robert Klinger.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $2,750,000
- Loan Type: Refinance Loan
The loan, secured against the property, amounts to $2,750,000. It is a 15-year self-liquidating loan, meaning there will be no outstanding debt balance at the end of the loan term. The loan was facilitated by Daniel Kowalsky of HKS Real Estate Advisors, who represented the parties involved in the transaction.
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
5.77%
Cash-on-Cash
-1.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93