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203 Richardson Street, Broo...

Anthony Morena Acquires Multifamily Property In Greenpoint, Brooklyn For $2.9M
FINANCEDMultiFamily

Anthony Morena Acquires Multifamily Property In Greenpoint, Brooklyn For $2.9M

203 Richardson Street, Brooklyn, NY 11222

$2,900,000

$1,109/SF

Building Size

2,614 SF

Asset Type

MultiFamily

Closing

Apr 28, 2020

AI

203 Richardson Street, located in Greenpoint, Brooklyn, was recently involved in a closed property transaction. The asset involved in this multifamily property, owned by landlord Anthony Morena, attracted the attention of lenders and brokers.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,900,000
  • Loan Amount: $2,900,000
  • Term: 18 months – acquisition & renovation loan
  • Lender: rosenthal''>Rosenthal & Rosenthal
  • Landlord: Anthony Morena
  • Broker: Michael Volpe - Highcap Group

The loan for this transaction, worth $2,900,000, was provided by Rosenthal & Rosenthal. Michael Volpe of Highcap Group represented the parties involved as the broker.

Players

Michael Volpe

Highcap Group

Broker

$84M

vol

19 deals

Broker
Rosenthal
RosenthalLender
Anthony Morena

Anthony Morena

Mortar Group

Landlord

$69.3M

vol

12 deals

Landlord

New York 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

5.47%

Cash-on-Cash

-1.56%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93