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130 South 2nd Street, South...

Updated Feb 16, 2024

Maguire Capital Provides $16.5M Loan For Multifamily Properties In Williamsburg & Carroll Gardens
FINANCEDMultiFamily

Maguire Capital Provides $16.5M Loan For Multifamily Properties In Williamsburg & Carroll Gardens

130 South 2nd Street, South Williamsburg, Brooklyn, NY, USA

$16,500,000

Building Size

Asset Type

MultiFamily

Closing

Jul 11, 2021

About this deal

AI

The loan for the multifamily properties located at 130 South 2nd Street, 318 Bedford Avenue, 740 Driggs Avenue, 178 Meserole Street, 180 Meserole Street, 182 Meserole Street, 440 Lorimer Street, 342 Rodney Street, 68 Carroll Street, and 144 Huntington Street in Williamsburg and Carroll Gardens has been secured. The lender, Maguire Capital represented by Marvin Azrak, provided a loan amount of $16,500,000 with a term of 1 year. The landlord of the properties is Chaskiel Strulovitch.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $16,500,000

The loan was provided by Maguire Capital, with Marvin Azrak representing the lender in the deal. Chaskiel Strulovitch is the landlord of the properties.

Players

Maguire Capital
Maguire CapitalLender

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

0.96%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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