Joe Fingerman Of A & E Real Estate Finance Provides $2.51M Acquisition Loan For Brooklyn Multifamily
103 3rd Place
$2,512,500
$400/SF
Building Size
6,272 SF
Asset Type
MultiFamily
Closing
Oct 30, 2024
AI
The property asset involved in this transaction is a multifamily building located at 103 3rd Place in Brooklyn. The asset features a total square footage of 6,272 and comprises 8 units. The acquisition was financed through a loan amounting to $2,512,500.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,512,500
- Address: 103 3rd Place
- Market: Brooklyn
- Asset Size: 6,272 SF
- Units: 8
- Lender: Joe Fingerman - A & E Real Estate Finance
- Brokers: Avi Weinstock & Daniel Neiss - Meridian Capital Group
- Loan Type: Acquisition
This transaction was facilitated by Joe Fingerman, who represents A & E Real Estate Finance as the lender. The brokers involved in the deal are Avi Weinstock and Daniel Neiss, representing Meridian Capital Group, who played a crucial role in the acquisition process.
Players
Brooklyn 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
6.31%
Cash-on-Cash
-1.80%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93