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194 Tillary Street, Fort Gr...

Triumph Hotels - Shimmie Horn Secures $13M Loan For Multifamily Property In Fort Greene, Brooklyn
FINANCEDMultiFamily

Triumph Hotels - Shimmie Horn Secures $13M Loan For Multifamily Property In Fort Greene, Brooklyn

194 Tillary Street, Fort Greene, Brooklyn, NY, USA

$13,000,000

$1,485/SF

Building Size

8,753 SF

Asset Type

MultiFamily

Closing

Dec 17, 2020

AI

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.

Players

Popular Bank
Popular BankLender

Shimmie Horn

Triumph Hotels

Landlord

$38.2M

vol

2 deals

Landlord

Brooklyn MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.22%

Cash-on-Cash

-0.35%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93