Updated Mar 11, 2025
Pacific Street Properties Corp. Acquires Multi Family Property In Brooklyn For $1.855M
1898 Pacific St, Brooklyn, NY 11233, USA
$10,000
$1/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Nov 28, 2020
About this deal
AI
Located at 1898 Pacific Street in Brooklyn, New York, this multi-family property was recently involved in a closed transaction. The property, owned by Pacific Street Properties Corp., spans 10,000 square feet and comprises 12 units.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $1,855,000
- Lender: Sabal Capital Partners
- Lender's Representative: Pat Jackson
- Landlord: Pacific Street Properties Corp.
- Broker: Abe Mann
- Brokerage Agency: Progress.Capital
- Loan Terms: 80% loan-to-value ratio, 3.74% fixed interest rate for 5 years, non-recourse
The deal was facilitated by Abe Mann of Progress.Capital, representing the buyer or seller in the transaction. Pat Jackson, from Sabal Capital Partners, acted as the lender in this transaction.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Visit Abe Mann to view all their deals.
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1586.30%
Cash-on-Cash
-453.37%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93