facebook

traded

+ Submit
Home

/

Deals

/

New York

/

Multifamily

/

Loan

/

263 Skillman Street, Brookl...

BridgeCity Capital Provides $23.5M Loan For Brooklyn Property With Landlord Yoel Goldman And Broker Elya Kahn
FINANCEDMultiFamily

BridgeCity Capital Provides $23.5M Loan For Brooklyn Property With Landlord Yoel Goldman And Broker Elya Kahn

263 Skillman Street, Brooklyn, NY 11205, USA

$23,500,000

$335/SF

Building Size

70,000 SF

Asset Type

MultiFamily

Closing

Sep 26, 2019

AI

BridgeCity Capital has provided a loan of $23,500,000 to Yoel Goldman for the property located at 1010 Bedford & 263 Skillman in Brooklyn. The loan has a term of 18 months, with a possible 6-month extension. The property consists of 40 residential units and a commercial space, totaling 70,000 square feet. Elya Kahn from Greenrock Funding represented Goldman as the broker in this deal.

Summary of transation details

  • Property Type: Mixed-use (Residential and commercial)
  • Transaction Amount: $23,500,000
  • Address: 1010 Bedford & 263 Skillman, Brooklyn
  • Square Footage: 70,000
  • Units: 40 residential units + commercial space
  • Lender: BridgeCity Capital
  • Landlord: Yoel Goldman
  • Broker: Elya Kahn - Greenrock Funding

The loan transaction involved Pinny Loketch, Allan Lebovits, Moishe Loketch, and Louis Lebovits, as seen in the Instagram post provided. They were not mentioned in the first paragraph and are presumably involved in the ownership or management of the property.

Players

Louis Lebovits

BridgeCity Capital

Broker

$1.4B

vol

49 deals

Broker
BridgeCity Capital
BridgeCity CapitalLender

Yoel Goldman

All Year Holdings

Landlord

$473.8M

vol

8 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.68%

Cash-on-Cash

-0.19%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93