Pinchus Schwartz Of Castling Capital Group Secures $2.6M Refinance For Multifamily Asset In Brooklyn
2 Oakland Place
$2,600,000
$144/SF
Building Size
18,000 SF
Asset Type
MultiFamily
Closing
Mar 5, 2025
AI
The property asset located at 2 Oakland Place in Brooklyn is a multifamily building comprising 33 units and covering a total area of 18,000 square feet. The property was refinanced for an amount of $2,600,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,600,000
- Loan Type: Refinance
- Broker: Pinchus Schwartz - Castling Capital Group
- Date of Transaction: 03/05/2025
Pinchus Schwartz from Castling Capital Group represented the refinancing deal for the multifamily property, facilitating the financial transaction. For any finance inquiries, interested parties are directed to email [email protected].
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
6.10%
Cash-on-Cash
-1.74%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93