Updated Oct 29, 2024
Caspi Development Acquires Multifamily Property In Greenpoint, Brooklyn For $9.3M
144 West St, Brooklyn, NY 11222, USA
$9,325,000
$535/SF
Building Size
17,400 SF
Asset Type
MultiFamily
Closing
Dec 15, 2019
About this deal
AI
The multifamily property located at 144 West Street in Greenpoint, Brooklyn has been the subject of a recent closed transaction. The property spans 17,400 square feet and consists of 22 units. The deal was facilitated by Bryan Manz, Rob Serra, Phil Bowman, and Brandon Harris of Black Bear Capital Partners, who represented the parties involved.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $9,325,000
The lender for this transaction was MF1 Capital, providing a two-year bridge loan with an initial floating interest rate of 5.15%. The property's landlord is Caspi Development.
On the Map
$9,325,000
$535/SF
MultiFamily
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Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.70%
Cash-on-Cash
-0.49%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93