FINANCEDMultiFamily
GPS Capital & 4Corner Provides $1.57M Bridge Loan For Multifamily Property In Williamsburg, Brooklyn
10 Havemeyer Street, Brooklyn, New York 11211, United States
$1,570,000
$261/SF
Building Size
6,000 SF
Asset Type
MultiFamily
Closing
May 15, 2022
AI
The property asset involved in this transaction is a multifamily building situated at 10 Havemeyer St., Williamsburg, Brooklyn. The asset comprises 6,000 square feet and contains 8 units. The loan amount extended for this property is $1,570,000, categorized as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,570,000
- Address: 10 Havemeyer St.
- Market: Williamsburg, Brooklyn
- Asset Size: 6,000 SF
- Units: 8
- Lender: Steven Goldschmied - GPS Capital & 4Corner
- Landlord: Chris Ciel
This transaction has notable participants; Steven Goldschmied from GPS Capital & 4Corner acted as the lender for the deal, offering capital and inviting further inquiries for future deals. Chris Ciel is the landlord associated with this multifamily property.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
10.10%
Cash-on-Cash
-2.89%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93