Urban Standard Capital Provides $4.05M Construction Loan For Multifamily Property In Boerum Hill
FINANCED
$4,050,000
New York
See Similar DealsMultiFamily5,771 SF
Financed 03/22/2022
FINANCED
Urban Standard Capital Provides $4.05M Construction Loan For Multifamily Property In Boerum Hill
522 State Street, Brooklyn, New York 11217, United States
See Similar DealsMultiFamily5,771 SF
Financed 03/22/2022
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$701
Total Square Footage:5,771 SF
Transaction Type:Loan
The property involved in this transaction is a multifamily asset located at 522 State St. in the Boerum Hill market. It spans a total of 5,771 square feet. The transaction took place on 03/22/2022.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $4,050,000
- Market: Boerum Hill
- Address: 522 State St.
- Asset Type: Multifamily
- Square Footage: 5,771
The lender in this transaction was Urban Standard Capital. The loan amount provided was $4,050,000, and the loan type was construction. The representatives from Urban Standard Capital involved in the deal were Harrison Rowen and Seth Weissman.
For all bridge and construction lending opportunities, interested parties can reach out via email to Sam Hollander at [email protected] and Harrison Rowen at [email protected].
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,050,000.00
Monthly NOI$27,000.00
Monthly Debt Service$25,598.75
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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