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681 Saint Marks Avenue, Bro...

Washington Equity And Funding Corp. Provides $1M Private Hard Money Loan For Multifamily Property In Brooklyn
FINANCEDMultiFamily

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

Alex Piroozian

Washington Equity & Funding Corp.

Lender

$10.6M

vol

8 deals

Lender
Washington Equity & Funding Corp.
Washington Equity & Funding Corp.Lender

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