Investors Bank Provides $1.26M Acquisition Loan For Multifamily Property In Brooklyn
109 Albany Avenue, Brooklyn, New York 11213, United States
$1,260,000
$407/SF
Building Size
3,093 SF
Asset Type
MultiFamily
Closing
Apr 20, 2022
AI
The multifamily property located at 109 Albany Avenue in Brooklyn has recently been involved in a loan transaction. The property spans an area of 3,093 square feet and comprises four units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 04/21/2022
- Address: 109 Albany Avenue, Brooklyn
- Market: Brooklyn
- Square Footage: 3,093
- Number of Units: 4
The loan for this property was provided by Investors Bank. The loan amount for the acquisition is $1,260,000.
John Libretti of Progress Capital acted as the broker for this deal, representing the buyer.
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
12.59%
Cash-on-Cash
-3.60%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93