Savoy Bank Provides $1.41M Loan For Multifamily Property In Stuyvesant Heights, Brooklyn
FINANCED
$1,410,000
New York
See Similar DealsMultiFamily2,200 SF
Financed 05/17/2021
FINANCED
Savoy Bank Provides $1.41M Loan For Multifamily Property In Stuyvesant Heights, Brooklyn
568 Jefferson Avenue, Brooklyn, NY 11221
See Similar DealsMultiFamily2,200 SF
Financed 05/17/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$640
Total Square Footage:2,200 SF
Transaction Type:Loan
Located in Stuyvesant Heights, Brooklyn, the multifamily property at 568 Jefferson Avenue has recently closed in a transaction. The deal, which took place on 05/17/2021, involved a loan from Savoy Bank for an amount of $1,410,000. The loan term is set at 18 months with interest-only payments.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,410,000
- Lender: Savoy Bank
- Brokers: Frank Stanislaski & John Libretti from rogress.Capital
In this transaction, the property was represented by brokers Frank Stanislaski and John Libretti from rogress.Capital. They played a crucial role in facilitating the deal between the parties involved.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$1,410,000.00
Monthly NOI$9,400.00
Monthly Debt Service$8,912.16
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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