Updated Sep 5, 2024
Rosario Parlanti Secures $6M Acquisition Loan From Freddie Mac For Prospect Lefferts Gardens Multi-Family Property
271 Parkside Avenue, Brooklyn, New York 11226, United States
$6,000,000
$120/SF
Building Size
50,000 SF
Asset Type
MultiFamily
Closing
Apr 26, 2022
About this deal
AI
The real estate transaction in Prospect Lefferts Gardens involved the acquisition of a multifamily property with a square footage of approximately 50,000. The property is located at 271 Parkside Ave & 200 E19th Street.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Market: Prospect Lefferts Gardens
- Loan Type: Acquisition
- Loan Amount: $6,000,000
- Loan Terms: 75% LTV, 3% fixed for 5 years, IO
The loan for the property was secured from Freddie Mac. The landlord involved in the transaction is Rosario Parlanti. The brokers who facilitated the deal were Abe Mann and Aaron Jungreis from Rosewood Realty Group.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93