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Joshua Pollack Of FM Capital Secures $15.6 Million Loan For Brooklyn Multifamily Acquisition

Property Image
FINANCED
$15,600,000

New York

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MultiFamily
Financed 06/12/2025
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Property Image
FINANCED

Joshua Pollack Of FM Capital Secures $15.6 Million Loan For Brooklyn Multifamily Acquisition

3004 Avenue R & 1865 Burnett Street

See Similar Deals
MultiFamily
Financed 06/12/2025
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Transaction Type:Loan

The property involved in this transaction is a multifamily asset located at 3004 Avenue R and 1865 Burnett Street in Brooklyn. It encompasses a total square footage of 97,300 and consists of 144 units. The loan amount secured for this acquisition is $15,600,000.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $15,600,000
  • Loan Type: Acquisition
  • Lender's Representative: Joshua Pollack - FM Capital
  • Pre-Pay Penalty Rate: 3-1-1
  • Loan Term: 3 years

The borrower was seeking a short-term solution, which led to the structuring of a loan designed to meet their needs within a three-year timeframe. The details of the deal are represented by Joshua Pollack from FM Capital, who facilitated the loan agreement.

Players

Joshua (Josh) Pollack
FM Capital⁠
Joshua Pollack
11 deals$206.8M volume(888) 210-0703
BROKER
FM Capital
FM Capital
BROKERAGE

Details

FINANCED
IMAGE: Joshua Pollack DATE: 6/13/2025 ADDRESS: 3004 Avenue R & 1865 Burnett Street MARKET: Brooklyn ASSET TYPE: Multifamily ~ SF: 97,300 ~ UNITS: 144 LENDER'S REP: Joshua Pollack - FM Capital⁠ LOAN AMOUNT: $15,600,000 LOAN TYPE: Acquisition NOTE FROM LENDER'S REP: Borrower was looking for short term solution so we structured a 3 year deal with a 3-1-1 Pre-Pay Penalty Rate was 6.1% ⁠

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$15,600,000.00

Monthly NOI$104,000.00
Monthly Debt Service$98,602.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00