Pinchus Schwartz & Snco Capital Secure $5.9M Cash Out Refinance Loan For Brooklyn Multifamily
321 Chauncey Street, Brooklyn, NY, USA
$5,902,000
$3,421/SF
Building Size
1,725 SF
Asset Type
MultiFamily
Closing
Dec 1, 2020
AI
A cash-out refinance loan of $5,902,000 was secured for a multifamily property in Brooklyn. The property is located at 321 Chauncey, 603 Wyona, 635 Vermont, and 643 Vermont. This transaction took place on December 2, 2020.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $5,902,000
- Lender: Arbor Realty Trust
- Broker: Pinchus Schwartz - Snco Capital
The loan was facilitated by Arbor Realty Trust. Pinchus Schwartz from Snco Capital represented the borrower in this deal.
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
2.69%
Cash-on-Cash
-0.77%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93