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42 Butler Street, Brooklyn,...

Updated Dec 21, 2023

Cetinkaya Family Secures $1.9M Loan With M.Y Safra Bank For Cobble Hill Multifamily
FINANCEDMultiFamily

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

Danny Sassoon

Broker

$3.3M

vol

2 deals

Broker

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $431 per square foot on a published $1.9M for 4,400 square feet (2019).

Visit Dennis Cetinkaya to view all their deals.

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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

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