Updated Mar 11, 2025
Moishe Loketch, Louis Lebovits & Allan Lebovits Acquire Multifamily Property In Bushwick For $12M
58 Palmetto St, Brooklyn, NY 11221, USA
$12,000,000
$658/SF
Building Size
18,225 SF
Asset Type
MultiFamily
Closing
Sep 27, 2020
About this deal
AI
The subject property at 58 Palmetto Street in Bushwick, Brooklyn, has recently undergone a closed transaction. This multifamily building, with a zoning classification of R6, is a predominantly finished 6-story elevatored apartment complex. The property features a loan image associated with Moishe Loketch, Louis Lebovits, and Allan Lebovits. The transaction took place on September 28, 2020.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $12,000,000
- Address: 58 Palmetto Street, Bushwick, Brooklyn
- Market: Bushwick, Brooklyn
- Zoning: R6
- Lender: BridgeCity Capital (@BridgeCityFunding)
- Loan Amount: $12,000,000
- Building Square Footage: 18,225
- Lot Size: 75 ft x 100 ft (7,500 SF)
In this transaction, Moishe Loketch, Louis Lebovits, and Allan Lebovits represent the loan image associated with the subject property. They exercised their expertise and acted as the representatives in this deal.
Players
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
1.32%
Cash-on-Cash
-0.38%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93