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1337 49th St, Brooklyn, NY,...

Emerald Creek Capital Provides $1.8M Refinance For MultiFamily In Borough Park
FINANCEDMultiFamily

Emerald Creek Capital Provides $1.8M Refinance For MultiFamily In Borough Park

1337 49th St, Brooklyn, NY, 11219

$1,800,000

Building Size

Asset Type

MultiFamily

Closing

Nov 22, 2023

AI

The property at 1337 49th St, Brooklyn, NY, 11219, is a 4-story, 3-family townhouse with 7,526 square feet of gross building area. It has two 4-bedroom units on the first and second floors, and one 6-bedroom duplex on the third and fourth floors. The property received a $1,800,000 refinance from Emerald Creek Capital. Situated in the Borough Park neighborhood of Brooklyn, this multi-family asset benefits from its proximity to retail stores, eateries, and the D subway line on New Utrecht Avenue.

Summary of transaction details:

Scott Steinel can be reached at (646) 237-2568 or via email at [email protected]. Emerald Creek Capital, the lender in this transaction, operates from various locations including New York, Palm Beach Gardens, Chadds Ford, and Boston. The refinance deal for this property signifies the attractiveness of multi-family properties in the Borough Park area of Brooklyn.

Players

Scott Steinel

Timbercreek Capital

Broker

$12.2M

vol

4 deals

Broker
Emerald Creek Capital
Emerald Creek CapitalLender

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93