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619 Throop Avenue, Brooklyn...

Red Fox Capital Provides $17M Loan For Multifamily Property In Brooklyn
FINANCEDMultiFamily

Red Fox Capital Provides $17M Loan For Multifamily Property In Brooklyn

619 Throop Avenue, Brooklyn, NY 11216

$17,000,000

$510/SF

Building Size

33,288 SF

Asset Type

MultiFamily

Closing

Jun 30, 2020

AI

A multifamily property located at 619 Throop Avenue in Brooklyn has been involved in a recent loan transaction. The loan was provided by Red Fox Capital in the amount of $17,000,000. The loan term is set for 24 months.

Summary of transation details

  • Property Type: Multifamily
  • Transaction Amount: $17,000,000
  • Address: 619 Throop Avenue, Brooklyn
  • Market: Brooklyn

The property is owned by Rivington Company, represented by Travis Stabler and Alejandra Rincon. The brokers involved in the transaction were Jonathan More, Lexington Henn, and Steve Buchwald.

Players

Jonathan More

Mayfair Investment Partners

Broker

$259.3M

vol

9 deals

Broker
Red Fox Capital
Red Fox CapitalLender
Travis Stabler

Travis Stabler

Rivington Company

Landlord

$74.7M

vol

5 deals

Landlord

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

0.93%

Cash-on-Cash

-0.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93