Updated Feb 26, 2025
S3Capital Provides $6.3M Construction Loan For Multifamily Property On St. Marks Ave
669 St Marks Ave, Brooklyn, NY 11216, USA
$6,300,000
$1,351/SF
Building Size
4,660 SF
Asset Type
MultiFamily
Closing
Sep 2, 2020
About this deal
AI
A construction loan in the amount of $6,300,000 has been secured for a multifamily property located at 669 St. Marks Avenue in Crown Heights, Brooklyn. The loan was provided by @S3Capital.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,300,000
- Address: 669 St. Marks Avenue, Crown Heights, Brooklyn
- Market: Crown Heights, Brooklyn
The landlord of the property is Massimo Cocco, and the deal was represented by Reuben Pinner as Massimo Cocco's representative.
The multifamily loan at 669 St Marks Ave, Brooklyn, NY 11216, USA in New York, New York financed for $6.3M in 2020. The building is 4,660 square feet, implying about 1.4K per square foot on the published price. This page is the New York, New York file for the 669 St Marks Ave, Brooklyn, NY 11216, USA multifamily financed: pricing, party profiles, and other closed multifamily comps from the same New York sit in the Market section below. Filter that New York multifamily set by closing date to see what else financed near 669 St Marks Ave, Brooklyn, NY 11216, USA around 2020. Published consideration for 669 St Marks Ave, Brooklyn, NY 11216, USA is $6.3M, dated 2020. Cite this S3Capital Provides $6.3M Construction Loan For Multifamily Property On St. Marks Ave loan when underwriting similar multifamily product around New York, New York.
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93