Updated Oct 28, 2024
Kings Capital Refinances Multifamily Properties In Bedford-Stuyvesant For $4.5M
154 Sumpter Street, Brooklyn, NY, USA
$4,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 15, 2020
About this deal
AI
A multifamily property located at 162 Sumpter St., 154 Sumpter St., and 145 Somers St. in Bedford-Stuyvesant, New York City, was recently involved in a loan transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Lender: Spencer Savings Bank
- Landlord: Kings Capital - Richard Wheeler
- Broker: John Harrington from KSRealEstateAdvisors
The loan amount for this transaction was $4,500,000.
Richard Wheeler from Kings Capital is the landlord of the property. John Harrington from KSRealEstateAdvisors acted as the broker in this deal.
In addition to this refinance, Kings Capital has entered into a hard contract to sell a multifamily property. They are currently seeking to acquire multiple properties within New York City and out of state for their 1031 exchange. For any potential opportunities, interested parties can email Kings Capital at [email protected].
On the Map
$4,500,000
MultiFamily
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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
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93