Updated Dec 4, 2024
Avdoo & Partners Refinances Prospect Heights Multifamily For $7.95M
1133 Dean Street
$7,950,000
$439/SF
Building Size
18,100 SF
Asset Type
MultiFamily
Closing
Dec 12, 2022
About this deal
AI
Located in Prospect Heights, Brooklyn, a multifamily property spanning approximately 18,100 square feet has recently undergone a loan refinancing. The property is situated at 1133 Dean Street, 1148 Union Street, and 724 Franklin Ave.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,950,000
- Loan Type: Refinance
- Loan Terms: 3.875%, 5 Years, 3 Years I/O
- Landlord: Avdoo & Partners
- Brokers: Jonathan Aghravi, Eli Terry, Evan Srebrenik & Timothy Cox - JBA Equities
The loan, totaling $7,950,000, has been secured for the multifamily property located in Prospect Heights, Brooklyn. The loan type is a refinance loan with terms set at an interest rate of 3.875% for a period of 5 years, with 3 years of interest-only payments.
Players
Prospect Heights, 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
2.00%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93