Updated Oct 29, 2024
Urban Standard Capital Provides $6.6M Loan For Multifamily Properties In Red Hook, Brooklyn
253 Van Brunt St, Red Hook, Brooklyn, NY, USA
$6,600,000
$885/SF
Building Size
7,456 SF
Asset Type
MultiFamily
Closing
Feb 8, 2021
About this deal
AI
Three properties located at 253 Van Brunt St., 385 Van Brunt St., and 93 Verona St. in Red Hook, Brooklyn have been involved in a recent closed transaction. The properties fall under the multifamily asset type category.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $6,600,000
The loan for this transaction was provided by Seth Weissman, Robert Levine, and Charlie Brosens from Urban Standard Capital. The landlord involved in the transaction is Lee Cohen from Redhoek+Partners. The broker responsible for facilitating the deal is Eric Gleitman from Mercury Capital Markets.
If you're interested in bridge and construction opportunities in New York, Philadelphia, and South Florida, you can contact Robert ([email protected]) or Charlie ([email protected]).
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
2.40%
Cash-on-Cash
-0.69%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93