Updated Mar 11, 2025
Cross River Bank Provides $5.2M Loan For Multifamily Property On Bleecker Street In Bushwick, Brooklyn
23 Bleecker Street, Brooklyn, NY, USA
$5,200,000
$693/SF
Building Size
7,500 SF
Asset Type
MultiFamily
Closing
Nov 11, 2020
About this deal
AI
A multifamily property located at 23 Bleecker Street in Bushwick, Brooklyn has recently undergone a closed transaction. The property is situated in a vibrant market and offers ample potential for investment.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $5,200,000
- Loan Provider: Cross River Bank
- Brokers: Dimitri P. Venekas & Gregory Vassilakos - Cosmos Capital Group
The loan for this transaction was secured through Cross River Bank, providing a significant amount of $5,200,000. The brokers involved in the deal were Dimitri P. Venekas and Gregory Vassilakos, representing Cosmos Capital Group. Their expertise and knowledge in the market played a crucial role in ensuring a successful transaction.
Players
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
3.05%
Cash-on-Cash
-0.87%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93