Updated Feb 16, 2024
Golden Bridge Funding Provides $20M Loan For Multifamily Property In Flatbush NYC
406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA
$20,000,000
$2,314/SF
Building Size
8,640 SF
Asset Type
MultiFamily
Closing
Jul 20, 2021
About this deal
AI
Located at 406 Remsen Avenue in Flatbush, this multifamily property consists of 95 units. The transaction took place on July 21, 2021.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Market: Flatbush
- Address: 406 Remsen Avenue
- Units: 95
The lender for this transaction was Golden Bridge Funding, providing a loan amount of $20,000,000. Amit Itshaik serves as the landlord of the property.
The multifamily loan at 406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA in New York, New York financed for $20M in 2021. The building is 8,640 square feet, implying about 2.3K per square foot on the published price. This page is the New York, New York file for the 406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA around 2021. Published consideration for 406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA is $20M, dated 2021. Cite this Golden Bridge Funding Provides $20M Loan For Multifamily Property In Flatbush NYC loan when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93