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253 Van Brunt St, Red Hook,...

Urban Standard Capital Provides $6.6M Loan For Multifamily Properties In Red Hook, Brooklyn
FINANCEDMultiFamily

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

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

Eric Gleitman

Mercury Capital Markets

Broker

$126.1M

vol

24 deals

Broker
Urban Standard Capital
Urban Standard CapitalLender
Lee Cohen

Lee Cohen

RedHoek

Landlord

$299M

vol

25 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

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93