Triumph Hotels - Shimmie Horn Secures $13M Loan For Multifamily Property In Fort Greene, Brooklyn
FINANCED
$13,000,000
New York
See Similar DealsMultiFamily8,753 SF
Financed 12/18/2020
FINANCED
Triumph Hotels - Shimmie Horn Secures $13M Loan For Multifamily Property In Fort Greene, Brooklyn
194 Tillary Street, Fort Greene, Brooklyn, NY, USA
See Similar DealsMultiFamily8,753 SF
Financed 12/18/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$1,485
Total Square Footage:8,753 SF
Transaction Type:Loan
The multifamily property located at 194 Tillary Street in Fort Greene was involved in a closed transaction on December 18, 2020. The property consists of 48 units with a total square footage of 65,645. The lender for this transaction was Popular Bank, which provided a loan amount of $13,000,000. The landlord of the property is Triumph Hotels, specifically Shimmie Horn.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $13,000,000
- Address: 194 Tillary Street
- Market: Fort Greene
In addition to the property and financial details, it should be noted that Shimmie Horn represents Triumph Hotels in this transaction as their broker representative.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$13,000,000.00
Monthly NOI$86,666.67
Monthly Debt Service$82,168.84
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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