Updated Feb 16, 2024
Popular Bank Refinances Multifamily Property On Manhattan Avenue In Williamsburg For $7.2M
415 Manhattan Avenue, Brooklyn, New York 11222, United States
$7,200,000
$884/SF
Building Size
8,138 SF
Asset Type
MultiFamily
Closing
Aug 10, 2022
About this deal
AI
Popular Bank has provided a $7,200,000 refinance loan for a multifamily property located at 415 Manhattan Avenue in Williamsburg. The property spans approximately 8,138 square feet and consists of 9 units. Joel Schwartz serves as the landlord for this transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,200,000
- Address: 415 Manhattan Avenue
- Market: Williamsburg
- Square Footage: 8,138
- Units: 9
- Lender: Popular Bank
- Landlord: Joel Schwartz
- Loan Type: Refinance
With Popular Bank as the lender, this refinance deal showcases the involvement of Joel Schwartz, who serves as the landlord for the property located at 415 Manhattan Avenue. The transaction involves a multifamily property comprising 9 units and spanning approximately 8,138 square feet in Williamsburg.
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
2.20%
Cash-on-Cash
-0.63%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93