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2885 West 15th Street, Broo...

Gowanus Cubes Refinances Multifamily Property In Coney Island & Gowanus For $35M
FINANCEDMultiFamily

Gowanus Cubes Refinances Multifamily Property In Coney Island & Gowanus For $35M

2885 West 15th Street, Brooklyn, New York 11224, United States

$35,000,000

$191/SF

Building Size

183,073 SF

Asset Type

MultiFamily

Closing

Jun 22, 2021

AI

The multifamily property located at 2885 West 15th Street and 126 4th Avenue in Coney Island & Gowanus has undergone a refinancing transaction. The property spans approximately 183,073 square feet and comprises 142 units. The loan for this transaction was provided by Igor Vaysberg of Hirshmark Capital, with a loan amount of $35,000,000. The landlord of the property is Gowanus Cubes.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $35,000,000
  • Address: 2885 West 15th Street & 126 4th Avenue
  • Market: Coney Island & Gowanus
  • Square Footage: 183,073
  • Units: 142

In this refinancing deal, Igor Vaysberg from Hirshmark Capital acted as the lender. The landlord, Gowanus Cubes, was involved in the transaction as well.

Players

Hirshmark Capital
Hirshmark CapitalLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.45%

Cash-on-Cash

-0.13%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93