Updated Dec 21, 2023
Cetinkaya Family Secures $1.9M Loan With M.Y Safra Bank For Cobble Hill Multifamily
42 Butler Street, Brooklyn, NY, USA
$1,900,000
$431/SF
Building Size
4,400 SF
Asset Type
MultiFamily
Closing
Feb 27, 2019
About this deal
AI
The multifamily property located at 42 Butler St. in Cobble Hill, BK was involved in a closed transaction on February 28, 2019. The property spans a total area of 4,400 square feet.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,900,000
- Address: 42 Butler St., Cobble Hill, BK
- Lender: M.Y Safra Bank
- Landlord: Cetinkaya Family
- Loan Terms: cashout refi at 4.75%
The deal was facilitated by Danny Sassoon, a broker representing the parties involved in the transaction.
The multifamily loan at 42 Butler Street, Brooklyn, NY, USA in New York, New York financed for $1.9M in 2019. The building is 4,400 square feet, implying about 431 per square foot on the published price. Named participants on the 42 Butler Street, Brooklyn, NY, USA loan are Dennis Cetinkaya, Danny Sassoon. This page is the New York, New York file for the 42 Butler Street, 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 42 Butler Street, Brooklyn, NY, USA around 2019. Published consideration for 42 Butler Street, Brooklyn, NY, USA is $1.9M, dated 2019. Cite this Cetinkaya Family Secures $1.9M Loan With M.Y Safra Bank For Cobble Hill Multifamily loan when underwriting similar multifamily product around New York, New York.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
8.35%
Cash-on-Cash
-2.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93