Flushing Bank Provides $1.15M Loan To Cetinkaya Family For Carroll Gardens Multifamily
FINANCED
$1,150,000
New York
See Similar DealsMultiFamily27,000 SF
Financed 03/05/2020
FINANCED
Flushing Bank Provides $1.15M Loan To Cetinkaya Family For Carroll Gardens Multifamily
346 Union St, Brooklyn, NY 11231, USA
See Similar DealsMultiFamily27,000 SF
Financed 03/05/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$42
Total Square Footage:27,000 SF
Transaction Type:Loan
The multifamily property located at 346 Union Street in Carroll Gardens has recently undergone a closed transaction. The property, spanning 2,700 square feet, consists of 4 units and has been sold for a total of $1,150,000. The deal was facilitated by Joe Hach, representing the Cetinkaya Family as their broker.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,150,000
- Loan Amount: $1,150,000
- Loan Terms: 3.375% for 5-Year Fixed with 30-Year Amortization
- Square Footage: 2,700
- Units: 4
Flushing Bank provided a loan amount of $1,150,000 for this transaction. The loan terms include a fixed interest rate of 3.375% for 5 years, with a 30-year amortization schedule. The Cetinkaya Family, acting as the landlord, successfully completed the sale with the assistance of their broker, Joe Hach.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,150,000.00
Monthly NOI$7,666.67
Monthly Debt Service$7,268.78
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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