Mustakim Virani Secures $2.82 Million Refinance Loan From Cathay Bank For Brooklyn Multifamily
FINANCED
$2,820,000
New York
See Similar DealsMultiFamily8,315 SF
Financed 12/02/2024
FINANCED
Mustakim Virani Secures $2.82 Million Refinance Loan From Cathay Bank For Brooklyn Multifamily
254 Amboy Street
See Similar DealsMultiFamily8,315 SF
Financed 12/02/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$339
Total Square Footage:8,315 SF
Transaction Type:Loan
The property asset involved in the transaction is a multifamily building located at 254 Amboy Street, Brooklyn. It has a total square footage of 8,315 and consists of 11 units. The loan involved in this transaction amounts to $2,820,000 and is categorized as a refinance.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,820,000
- Square Footage: 8,315
- Units: 11
- Address: 254 Amboy Street
- Market: Brooklyn
- Lender: Cathay Bank
- Landlord: Mustakim Virani
- Broker: Daniel Kowalsky - HKS Real Estate Advisors
Key individuals and companies involved in this deal include Mustakim Virani as the landlord, Daniel Kowalsky serving as the broker representing the transaction, and Cathay Bank as the lender facilitating the refinance loan.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,820,000.00
Monthly NOI$18,800.00
Monthly Debt Service$17,824.32
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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