Updated May 12, 2025
Omri Bar-Mashiach Of Minerva Development Secures $4.5M Construction Loan From SDB For Multifamily Project
68 Quincy Street
$4,500,000
Building Size
—
Asset Type
MultiFamily
Closing
Mar 20, 2025
About this deal
AI
The asset involved is a multifamily residential property located at 68 Quincy Street in Bedford-Stuyvesant, Brooklyn. The project comprises a total of nine units and has secured a loan amounting to $4,500,000 specifically designated for construction purposes.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $4,500,000
- Address: 68 Quincy Street
- Market: Bedford Stuyvesant, Brooklyn
- Lender: SDB
- Landlord: Omri Bar-Mashiach - Minerva Development
- Loan Type: Construction
The loan details indicate that Omri Bar-Mashiach, representing Minerva Development, is directly involved in securing the financing for this residential project. The lender in this transaction is SDB, facilitating the construction financing necessary for the development of the nine-unit property.
On the Map
$4,500,000
MultiFamily
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Players
Brooklyn MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.53%
Cash-on-Cash
-1.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93