Joshua Skolnick Secures $6.5M Rehab Construction Loan For Multifamily Building In Carroll Gardens, Brooklyn
336 Degraw Street Brooklyn, New York 11231, USA
$6,500,000
$2,166/SF
Building Size
3,000 SF
Asset Type
MultiFamily
Closing
May 19, 2023
AI
Joshua Skolnick secured a rehab construction loan worth $6.5 million from First Republic Bank for a four-family building located at 336 Degraw Street in Carroll Gardens, Brooklyn. The multifamily property has a building square footage of 3,000 and a buildable square footage of 4,998.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,500,000
- Address: 336 Degraw Street, Carroll Gardens, Brooklyn
- Market: Carroll Gardens, Brooklyn
- Bank Lender: First Republic Bank
- Landlord: Jonathan C. Skolnick
- Loan Type: Rehab Construction
The loan was secured by Joshua Skolnick, representing the landlord Jonathan C. Skolnick. The loan, provided by First Republic Bank, will be used for the rehabilitation and construction of the four-family building located at 336 Degraw Street in Carroll Gardens, Brooklyn.
Players
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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93