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Golden Bridge Funding Provides $20M Loan For Multifamily Property In Flatbush NYC

Property Image
FINANCED
$20,000,000

New York

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MultiFamily8,640 SF
Financed 07/21/2021
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Property Image
FINANCED

Golden Bridge Funding Provides $20M Loan For Multifamily Property In Flatbush NYC

406 Remsen Avenue, East Flatbush, Brooklyn, NY, USA

See Similar Deals
MultiFamily8,640 SF
Financed 07/21/2021
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$2,314
Total Square Footage:8,640 SF
Transaction Type:Loan

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.

Players

Golden Bridge Funding
Golden Bridge Funding
LENDER

Details

FINANCED
IMAGE: 07/21/2021 ADDRESS: 406 Remsen Avenue MARKET: Flatbush ASSET TYPE: Multifamily ~ UNITS: 95 LENDER: Golden Bridge Funding LANDLORD: Amit Itshaik LOAN AMOUNT: $20,000,000

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$20,000,000.00

Monthly NOI$133,333.33
Monthly Debt Service$126,413.60
Change in Cash Flow$0.00
Refinance Proceeds$0.00