Updated Feb 16, 2024
Moshe Abramovich Acquires MultiFamily Property With $1.14M Purchase Loan At 137 23rd Street, Brooklyn NY
137 23rd St, Brooklyn, NY 11232, USA & 137 23rd St, Brooklyn, NY 11232, USA
$1,140,000
$172/SF
Building Size
3,003 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
The property involved in this transaction is a MultiFamily asset located at 137 23rd Street, Brooklyn NY. The purchase loan amount for this property is $1,140,000 with an interest rate of 3.61%. The loan has a term of 20 years with a 30-year amortization schedule and a loan-to-value ratio (LTV) of 70%.
Summary of transaction details
- Property Type: MultiFamily
- Transaction Amount: $1,140,000
- Address: 137 23rd Street, Brooklyn NY
- Interest Rate: 3.61%
- Term: 20 Year Term / 30 year Amortization
- LTV: 70%
Moshe Abramovich is the borrower and buyer in this transaction. The lender is Funding Platform, a private lender. The mortgage broker representing the deal are Ivan Tourcsg from Cornerstone Capital and Igor Zakh from Cornerstone Capital.
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
13.91%
Cash-on-Cash
-3.98%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93