We Lend Funds Challenging Mixed-Use Bridge Loan In Brooklyn For $1.47M
$1,471,000
$408/SF
Building Size
3,600 SF
Asset Type
Mixed-use
Closing
Jun 5, 2023
About this deal
AI
A challenging mixed-use bridge loan in Brooklyn, NY has been successfully closed and funded by We Lend, a balance sheet lender. The property involved in the transaction is a mixed-use building with a total square footage of 3,600. The loan amount provided by We Lend for this cash-out bridge loan was $1,471,000. The borrower was able to benefit from flexible and competitive terms, as well as a quick closing, thanks to We Lend's ability to navigate complex deals efficiently.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $1,471,000
- Market: Brooklyn
- Square Footage: 3,600
We Lend takes pride in their ability to provide tailored financing solutions. In this transaction, Solomon Suleymanov from We Lend served as the lender representative. For any financing needs or inquiries, Solomon Suleymanov can be reached directly at 212-257-3888 or via email at [email protected].
Players
Market 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
10.78%
Cash-on-Cash
-3.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93