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

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FINANCED
$6,600,000

New York

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MultiFamily7,456 SF
Financed 02/09/2021
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FINANCED

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

253 Van Brunt St, Red Hook, Brooklyn, NY, USA

See Similar Deals
MultiFamily7,456 SF
Financed 02/09/2021
Contact now

Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$885
Total Square Footage:7,456 SF
Transaction Type:Loan

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
24 deals$126.1M volume
BROKER

Urban Standard Capital
LENDER

Lee Cohen
25 deals$299M volume
LANDLORD

Lee Cohen
RedHoek Partners
25 deals$299M volume
LANDLORD

Lee Cohen
25 deals$299M volume
LANDLORD

Lee Cohen
25 deals$299M volume
LANDLORD

Lee Cohen
25 deals$299M volume
LANDLORD

Lee Cohen
25 deals$299M volume
LANDLORD

Details

FINANCED
IMAGE: Seth Weissman, Lee Cohen, Charlie Brosens, Eric Gleitman & Robert Levine DATE: 02/09/2021 ADDRESS: 253 Van Brunt St., 385 Van Brunt St., 93 Verona St. MARKET: Red Hook, Brooklyn ASSET TYPE: Multifamily LENDER: Seth Weissman, Robert Levine & Charlie Brosens - Urban Standard Capital @USC_NYC LANDLORD: Lee Cohen - Redhoek+Partners @Redhoek BROKER: Eric Gleitman - Mercury Capital Markets @MercuryCapitalMarkets LOAN AMOUNT: $6,600,000 NOTE FROM @USC_NYC: For bridge and construction opportunities in New York, Philadelphia, and South Florida, contact Robert ([email protected]) & Charlie ([email protected])

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$6,600,000.00

Monthly NOI$44,000.00
Monthly Debt Service$41,716.49
Change in Cash Flow$0.00
Refinance Proceeds$0.00