Updated Sep 5, 2024
Connect One Bank Refinances Multifamily Property In Sunset Park For $3.125M
337 44th Street, Brooklyn, New York 11220, United States
$3,125,000
$430/SF
Building Size
7,260 SF
Asset Type
MultiFamily
Closing
Jul 10, 2022
About this deal
AI
The multifamily property located at 337 44th St. in Sunset Park has been involved in a recently closed transaction. The property spans approximately 7,260 square feet, making it a sizable asset in the area.
Summary of transaction details
- Property Type: Multifamily
- Transaction Date: 07/11/2022
- Address: 337 44th St.
- Market: Sunset Park
- Loan Amount: $3,125,000
- Loan Type: Refinance
The loan for this property was provided by Connect One Bank. The landlord, Daniel Figotin, sought this refinance opportunity as a means to manage the property's financial needs. The broker representing the deal was Jake Gluck from Fortune CGR.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.08%
Cash-on-Cash
-1.45%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93