Updated Oct 29, 2024
Albert Dweck Of Duke Properties Secures $1.6M Loan For Multifamily Property At 568 Jefferson Avenue In Bedford-Stuyvestant With Savoy Bank
568 Jefferson Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA
$1,600,000
$727/SF
Building Size
2,200 SF
Asset Type
MultiFamily
Closing
Feb 1, 2021
About this deal
AI
A $1,600,000 loan has been secured for a multifamily property located at 568 Jefferson Avenue in the Bedford-Stuyvestant market. The loan terms are for 12 months with interest-only payments.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,600,000
- Address: 568 Jefferson Avenue
- Market: Bedford-Stuyvestant
Savoy Bank provided the loan for this transaction. The landlord, Albert Dweck of Duke Properties, successfully secured the loan with the assistance of Brad Domenico and John Libretti of Progress Capital.
The multifamily loan at 568 Jefferson Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA in New York, New York financed for $1.6M in 2021. The building is 2,200 square feet, implying about 727 per square foot on the published price. Brad Domenico, John Libretti, Albert Dweck, Progress Capital appear on the loan alongside Progress Capital. This page is the New York, New York file for the 568 Jefferson Avenue, Bedford-Stuyvesant, 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 568 Jefferson Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA around 2021. Published consideration for 568 Jefferson Avenue, Bedford-Stuyvesant, Brooklyn, NY, USA is $1.6M, dated 2021. Cite this Albert Dweck Of Duke Properties Secures $1.6M Loan For Multifamily Property At 568 Jefferson Avenue In Bedford-Stuyvestant With Savoy Bank loan when underwriting similar multifamily product around New York, New York.
Players
New York MultiFamily Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
9.91%
Cash-on-Cash
-2.83%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93