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:
- Property Type: MultiFamily
- Transaction Amount: $1,800,000.00
- Lender: Emerald Creek Capital
- Lender's Representative: Associate Director (Timbercreek Capital)
- Contact Person: Scott Steinel, Senior Associate
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
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
8.81%
Cash-on-Cash
-2.52%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93