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
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