NYCB Provides $1.69M Acquisition Loan For Multifamily Property In East New York, Brooklyn
FINANCED
$1,691,000
New York
See Similar DealsMultiFamily11,712 SF
FINANCED
NYCB Provides $1.69M Acquisition Loan For Multifamily Property In East New York, Brooklyn
240 New Jersey Avenue
See Similar DealsMultiFamily11,712 SF
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$144
Total Square Footage:11,712 SF
Transaction Type:Loan
Located at 240 New Jersey Ave in East New York, Brooklyn, this multi-family property is a noteworthy asset in the real estate market. With a square footage of 11,712, the property consists of 16 units, making it an attractive investment opportunity.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,691,000
- Lender: NYCB
- Landlord: Garib Family
- Brokers: William Watkins & Zachary Fuchs - GFI Realty
Notably, the acquisition of this property was made possible through a loan provided by NYCB. The Garib Family serves as the landlord, overseeing the management and operation of the property. Representing the parties involved in this deal are William Watkins and Zachary Fuchs of GFI Realty.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,691,000.00
Monthly NOI$11,273.33
Monthly Debt Service$10,688.27
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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