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625 Halsey St, Brooklyn, NY...

Northfield Bank Provides $6M Loan For Brooklyn Multifamily Property
FINANCEDMultiFamily

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

Kathy Anderson

Cushman & Wakefield

Broker

$937.3M

vol

56 deals

Broker
Progress Capital
Progress CapitalBrokerage
Northfield Bank
Northfield BankLender

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