Pinchus Schwartz Of Castling Capital Group Secures $1.47M Acquisition Loan For Brooklyn Multifamily
239a Vernon Avenue
$1,470,000
$525/SF
Building Size
2,800 SF
Asset Type
MultiFamily
Closing
Apr 2, 2025
AI
The property asset involved in this transaction is a multifamily building located at 239a Vernon Avenue in Brooklyn. It encompasses a total square footage of 2,800, and the acquisition loan amount secured for this transaction is $1,470,000.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,470,000
- Address: 239a Vernon Avenue
- Market: Brooklyn
- Loan Type: Acquisition
- Broker: Pinchus Schwartz - Castling Capital Group
Pinchus Schwartz represents Castling Capital Group in this acquisition deal, overseeing the financing aspects related to the multifamily property transaction.
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
10.79%
Cash-on-Cash
-3.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93