Cayuga Capital Management Secures $30M Loan For Multifamily Property On Bushwick Avenue With JP Morgan
618 Bushwick Avenue, Bushwick, Brooklyn, NY, USA
$30,000,000
$328/SF
Building Size
91,366 SF
Asset Type
MultiFamily
Closing
Mar 25, 2021
AI
618 Bushwick Avenue in Bushwick has been involved in a recent closed transaction. The multifamily property, owned by Cayuga Capital Management, attracted attention from various parties in the real estate market. The deal was facilitated by brokers Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler from Walker & Dunlop, who represented the interests of the buyer and seller.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $30,000,000
- Lender: JP Morgan
- Landlord: Cayuga Capital Management
- Brokers: Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler - Walker & Dunlop
The loan involved in this transaction was provided by JP Morgan. Cayuga Capital Management, as the landlord, played a significant role in the deal. The brokers, including Aaron Appel, Jonathan Schwartz, Keith Kurland, Adam Schwartz, and Mo Beler, represented the interests of the parties involved in the transaction.
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
0.53%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93