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
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
0.68%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93