Bayport Funding Provides $2M& Loan For Multifamily Property On Irving Place In Clinton Hill, Brooklyn
FINANCED
$2,015,300
New York
See Similar DealsMultiFamily2,880 SF
Financed 03/26/2021
FINANCED
Bayport Funding Provides $2M& Loan For Multifamily Property On Irving Place In Clinton Hill, Brooklyn
59 Irving Place, Clinton Hill, Brooklyn, NY, USA
See Similar DealsMultiFamily2,880 SF
Financed 03/26/2021
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$699
Total Square Footage:2,880 SF
Transaction Type:Loan
This multifamily property is located at 59 Irving Place in the Clinton Hill market. The loan amount for this property transaction is $2,015,300. The asset is characterized by its suitability for investment, being part of the multifamily category.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,015,300
- Address: 59 Irving Place
- Market: Clinton Hill
- Lender: Bayport Funding
- Lender Representative: Sharon Nachman
The transaction involves Bayport Funding, which specializes in business purpose bridge lending solutions for real estate investors dealing in 1-4 Family, Multi-Family, and Mixed Use properties. Sharon Nachman represents Bayport Funding in this loan agreement.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,015,300.00
Monthly NOI$13,435.33
Monthly Debt Service$12,738.07
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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