Amherst Capital Refinances Multifamily Property On Bushwick Avenue For $36M
600 Bushwick Avenue, Brooklyn, New York 11221, United States
$36,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Dec 5, 2021
AI
A multifamily property located at 600 Bushwick Avenue in the Bushwick market has recently undergone a refinancing transaction. The property consists of 64 residential units.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $36,000,000
- Address: 600 Bushwick Avenue
- Market: Bushwick
- Lender: Amherst Capital
- Landlord: Cayuga Capital Management - Jacob Sacks
- Brokers: Aaron Appel, Michael Diaz, Michael Ianno, and Jackson Irwin - Walker & Dunlop
The refinancing deal was facilitated by Amherst Capital and involved the coordination of various individuals and companies. Jacob Sacks, representing Cayuga Capital Management, acted as the landlord in the transaction. Aaron Appel, Michael Diaz, Michael Ianno, and Jackson Irwin, from the brokerage firm Walker & Dunlop, served as the brokers in the 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
0.44%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93