Northfield Bank Provides $6M Loan For Brooklyn Multifamily Property
625 Halsey St, Brooklyn, NY 11233, USA
$6,000,000
$566/SF
Building Size
10,597 SF
Asset Type
MultiFamily
Closing
Jun 16, 2020
AI
The multifamily property located at 625 Halsey Street in Brooklyn, Stuyvesant Heights, has recently been involved in a loan transaction. The loan was secured from Northfield Bank for a total amount of $6,000,000. The property consists of 20 units.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,000,000
- Address: 625 Halsey Street, Brooklyn, Stuyvesant Heights
- Lender: Northfield Bank
- Landlord: Ran David
- Broker: Kathy Anderson – @Progress.Capital
- Units: 20
Kathy Anderson from @Progress.Capital represented the parties involved in this loan transaction. She played a crucial role in securing the loan from Northfield Bank for the property located at 625 Halsey Street. Ran David is the landlord of this multifamily property in Brooklyn, Stuyvesant Heights.
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
2.64%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93