Eric Panecki & Jack Bergen Brick City Capital Provides $1.05M Bridge Loan For Maybrook Multifamily
FINANCED
$1,050,000
New York
See Similar DealsMultiFamily13,028 SF
Financed 05/09/2024
FINANCED
Eric Panecki & Jack Bergen Brick City Capital Provides $1.05M Bridge Loan For Maybrook Multifamily
301 Tower Avenue
See Similar DealsMultiFamily13,028 SF
Financed 05/09/2024
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$80
Total Square Footage:13,028 SF
Transaction Type:Loan
The property asset involved in this transaction is a multifamily building located at 301 Tower Avenue in Maybrook, NY, featuring a total square footage of 13,028. The loan amount secured for this property is $1,050,000 under bridge loan terms with a 30-year duration and a loan-to-value (LTV) ratio of 75%.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,050,000
- Address: 301 Tower Avenue
- Market: Maybrook, NY
- Loan Type: Bridge
- Loan Terms: 30 years 75% LTV
- Lender: Eric Panecki & Jack Bergen - Brick City Capital
Key individuals in this deal include Eric Panecki and Jack Bergen, who represent Brick City Capital as the lenders providing the financing for the multifamily asset. Their involvement is crucial in facilitating the bridge loan necessary for this property transaction.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,050,000.00
Monthly NOI$7,000.00
Monthly Debt Service$6,636.71
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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