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158 Withers Street

Eli Ben-Meir Dylan Kronenberg Amit Stern Of Arion Fund Provide $2.3 Million Bridge Loan In Brooklyn
FINANCEDMultiFamily

Eli Ben-Meir Dylan Kronenberg Amit Stern Of Arion Fund Provide $2.3 Million Bridge Loan In Brooklyn

158 Withers Street

$2,300,000

$594/SF

Building Size

3,870 SF

Asset Type

MultiFamily

Closing

Apr 10, 2025

AI

The asset involved in the transaction is a multifamily property located at 158 Withers Street in Brooklyn, comprising a total square footage of 3,870 and containing six residential units. The loan amount secured for this property is $2,300,000, classified as a bridge loan.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $2,300,000
  • Address: 158 Withers Street
  • Market: Brooklyn
  • Square Footage: 3,870
  • Units: 6
  • Lender: Eli Ben-Meir, Dylan Kronenberg & Amit Stern - Arion Fund
  • Landlord: Eric Orlofsky - Center Street Capital
  • Loan Type: Bridge

The key individuals involved in this deal include Eli Ben-Meir, Dylan Kronenberg, and Amit Stern representing the Arion Fund, which provided the financing. Eric Orlofsky, associated with Center Street Capital, represents the landlord of the property, signaling a collaborative effort in securing the financial backing for the multifamily sector.

Players

Eli Ben-Meir

Arion Fund

Lender

$65.2M

vol

11 deals

Lender
Arion Fund
Arion FundLender
Eric Orlofsky

Eric Orlofsky

Center Street Capital

Landlord

$33.8M

vol

8 deals

Landlord

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

6.90%

Cash-on-Cash

-1.97%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93