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346 Union St, Brooklyn, NY ...

Flushing Bank Provides $1.15M Loan To Cetinkaya Family For Carroll Gardens Multifamily
FINANCEDMultiFamily

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

Joseph Hach

Refined

Broker

$149.4M

vol

24 deals

Broker
Leviathan Capital
Leviathan CapitalBrokerage
Flushing Bank
Flushing BankLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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