Washington Equity And Funding Corp. Provides $1M Private Hard Money Loan For Multifamily Property In Brooklyn
681 Saint Marks Avenue, Brooklyn, NY 11216, USA
$1,000,000
$526/SF
Building Size
1,900 SF
Asset Type
MultiFamily
Closing
Apr 28, 2021
AI
The property at 681 St. Marks Avenue in Brooklyn has undergone a loan transaction. The asset is a multifamily property, and the transaction took place on 04/29/2021. The loan was provided by Washington Equity and Funding Corp., with Alex Piroozian acting as the lender's representative. The loan amount was $1,000,000, and the terms of the loan were a private hard money loan.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $1,000,000
- Address: 681 St. Marks Avenue
- Market: Brooklyn
- Lender: Washington Equity and Funding Corp.
- Lender's Representative: Alex Piroozian
- Date: 04/29/2021
This loan transaction showcases the involvement of Washington Equity and Funding Corp., with Alex Piroozian representing the lender. It highlights the financial support provided through a private hard money loan for the multifamily property located at 681 St. Marks Avenue in Brooklyn. The transaction took place on 04/29/2021, demonstrating the continued interest in investment opportunities in the Brooklyn market.
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
15.86%
Cash-on-Cash
-4.53%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93