ERG Commercial Real Estate Provides $2.8M Acquisition Financing For Brooklyn Multifamily Property
FINANCED
$2,800,000
New York
See Similar DealsMultiFamily6,300 SF
Financed 02/10/2023
FINANCED
ERG Commercial Real Estate Provides $2.8M Acquisition Financing For Brooklyn Multifamily Property
624 E. 17th Street
See Similar DealsMultiFamily6,300 SF
Financed 02/10/2023
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$444
Total Square Footage:6,300 SF
Transaction Type:Loan
The multifamily property located at 624 E. 17th Street in Brooklyn has undergone a recent transaction. The property spans approximately 6,300 square feet and consists of 6 units. The acquisition of this property has been facilitated through a loan provided by ERG Commercial Real Estate.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,800,000
- Address: 624 E. 17th Street
- Market: Brooklyn
- Lender: ERG Commercial Real Estate
- Landlord: Albert Dweck & Steven Ancona
- Brokers: Frank Stanislaski & Jack Subers - Progress Capital
- Loan Type: Acquisition
Frank Stanislaski and Jack Subers from Progress Capital represented the parties involved in this transaction.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,800,000.00
Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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