Updated Sep 5, 2024
Galaxy Capital Arranges $54.6M Construction Loan For Multifamily Property In Bushwick
60 Cedar St Brooklyn, NY 11221, USA
$54,600,000
$406/SF
Building Size
134,358 SF
Asset Type
MultiFamily
Closing
Jun 29, 2023
About this deal
AI
The property involved in this transaction is a multifamily asset located at 60 Cedar Street in the Bushwick neighborhood of Brooklyn. The property has a total square footage of 134,358 and consists of 140 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: Not mentioned
- Loan Amount: $54,600,000
- Loan Type: Construction
- Market: Bushwick, Brooklyn
- Broker: Henry Bodek - Galaxy Capital
The loan amount for this transaction is $54,600,000 and it is a construction loan. No further information on the transaction amount is provided. The property is situated in the Bushwick market in Brooklyn. The broker representing this deal is Henry Bodek from Galaxy Capital.
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
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93