Updated Oct 29, 2024
BridgeCity Capital Provides $14.2M Bridge Loan For Multifamily Property In Brooklyn
5 Withers St, Brooklyn, NY 11211, USA
$14
$0/SF
Building Size
15,850 SF
Asset Type
MultiFamily
Closing
Nov 21, 2022
About this deal
AI
Located at 5 Withers Street in Brooklyn, this multifamily property spans across 15,850 square feet and comprises 23 units. is the landlord of this property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $14,175,000
- Loan Type: Bridge
- Loan Terms: 12 months with an LTV of 61%
The loan for this transaction was provided by BridgeCity Capital, with Allan Lebovits, Louis Lebovits, Pinny Loketch, and Moshe Loketch involved in the lending process.
The multifamily loan at 5 Withers St, Brooklyn, NY 11211, USA in New York, New York financed for $14 in 2022. Reported inventory is 15,850 square feet across 23 units, or about 0 per square foot. This page is the New York, New York file for the 5 Withers St, Brooklyn, NY 11211, 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 5 Withers St, Brooklyn, NY 11211, USA around 2022. Published consideration for 5 Withers St, Brooklyn, NY 11211, USA is $14, dated 2022. Cite this BridgeCity Capital Provides $14.2M Bridge Loan For Multifamily Property In Brooklyn loan when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1133071.43%
Cash-on-Cash
-323835.29%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93