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
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