Cohabs Secures $40 Million Acquisition Loan From Axos Bank For Multifamily Properties In Brooklyn

A acquisition loan of $40 million was secured for three multifamily properties located at 108 Troutman Street, 1516 Greene Avenue, and 723 Metropolitan Avenue. The assets encompass a total of 13 units, with a combined building square footage of 12,885 and a building size footprint of 26,689. The properties are situated in the Bushwick market of Brooklyn.

Summary of transation details:

• Property Type: MultiFamily
• Transaction Amount: $40,000,000
• Lender: Axos Bank
• Landlord: James Grasso - Cohabs
• Assets Address: 108 Troutman Street, 1516 Greene Avenue & 723 Metropolitan Avenue
• Market: Bushwick, Brooklyn
• Unit Count: 13
• Building Size Footprint: 26,689
• Square Footage: 12,885

Cohabs, operating through 108 Troutman Street LLC, is the entity that secured this financing through Axos Bank. The deal was facilitated by landlord James Grasso who represents Cohabs in this transaction. The acquisition encompasses properties in the expanding Brooklyn neighborhoods of Bushwick and Williamsburg.