Flushing Bank Provides $1.15M Loan To Cetinkaya Family For Carroll Gardens Multifamily
346 Union St, Brooklyn, NY 11231, USA
$1,150,000
$42/SF
Building Size
27,000 SF
Asset Type
MultiFamily
Closing
Mar 4, 2020
AI
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
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
13.79%
Cash-on-Cash
-3.94%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93