Updated Oct 29, 2024
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
About this deal
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.
On the Map
$13,000,000
$1,485/SF
MultiFamily
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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
1.22%
Cash-on-Cash
-0.35%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93