Updated Jul 3, 2025
Moses Karpen Secures $12.3M Refinance Loan From Parke Bank For Williamsburg Multifamily At 141 Ross Street
141 Ross Street
$12,300,000
$591/SF
Building Size
20,800 SF
Asset Type
MultiFamily
Closing
Jun 18, 2025
About this deal
AI
A multifamily property located at 141 Ross Street in Williamsburg, Brooklyn, consists of 17 units across a total square footage of 20,800. Recently, this property underwent a refinancing process with a loan amount of $12,300,000 from Parke Bank, replacing previous debt from BridgeCity Capital.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,300,000
- Address: 141 Ross Street
- Market: Williamsburg, Brooklyn
- Lender: Parke Bank
- Landlord: Moses Karpen
- Loan Type: Refinance
Moses Karpen is identified as the landlord for the property, actively engaging in this refinancing transaction with Parke Bank to manage financial obligations related to his multifamily asset.
On the Map
$12,300,000
$591/SF
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.29%
Cash-on-Cash
-0.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93