Michael Yakubov's Stake Property Group Secures $858,551 Loan For Multifamily In Brooklyn
421 Saratoga Ave, Brooklyn, NY 11233, Estados Unidos
$858,551
$286/SF
Building Size
3,000 SF
Asset Type
MultiFamily
Closing
Nov 15, 2020
AI
The multifamily property located at 421 Saratoga Ave in Brooklyn was involved in a loan transaction. The loan amount was $858,551.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $858,551
- Landlord: Michael Yakubov – Stake Property Group
- Lender: LendIQ
Stake Property Group, founded by Michael Yakubov, represented the landlord in this deal. LendIQ provided the loan for the transaction. Stake Property Group focuses on purchasing non-performing notes in NY, Florida, Texas & Nevada and specializes in underperforming assets and opportunistic investments in the multifamily investment space. For any investment opportunities, interested parties can contact Michael Yakubov at [email protected].
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
18.48%
Cash-on-Cash
-5.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93