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103 3rd Place

Joe Fingerman Of A & E Real Estate Finance Provides $2.51M Acquisition Loan For Brooklyn Multifamily
FINANCEDMultiFamily

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:

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

Daniel Neiss

Meridian Capital Group

Broker

$635.8M

vol

27 deals

Broker
A & H Acquisitions
A & H AcquisitionsLender

Brooklyn 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

6.31%

Cash-on-Cash

-1.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93