Berkadia Commercial Mortgage Funds $15.2M Loan For Multifamily Property In Williamsburg
288-292 Union Avenue, Southside, Brooklyn, NY, USA
$15,234,000
$4,352/SF
Building Size
3,500 SF
Asset Type
MultiFamily
Closing
Dec 8, 2020
AI
The multifamily property located at 288-292 Union Avenue in Williamsburg was involved in a recent closed transaction. The property is owned by David Grunfeld.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $15,234,000
- Market: Williamsburg
The loan for this transaction was provided by Berkadia Commercial Mortgage with a loan amount of $15,234,000. The loan terms are set for 10 years with a fixed rate of 3.15%. The brokers representing the deal were Michael Shmuely from MShmu and Jonathan Flynn.
Players
Brooklyn 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
1.04%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93