Updated May 12, 2025
New York Community Bank Provides $20.3M Loan For Multifamily Property In Brownsville
7 Hegeman Avenue, Brownsville, Brooklyn, NY, USA
$20,299,000
$128/SF
Building Size
158,620 SF
Asset Type
MultiFamily
Closing
Feb 28, 2021
About this deal
AI
Located at 7 Hegeman Avenue in Brownsville, this multifamily property was recently involved in a closed transaction. The property spans a total area of 158,620 square feet and consists of 172 units. The loan for this transaction was provided by New York Community Bank, with a total loan amount of $20,299,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $20,299,000
- Market: Brownsville
- Address: 7 Hegeman Avenue
David Spira is the landlord of this property. The deal was secured and facilitated by New York Community Bank as the lender. These key individuals and companies played a crucial role in the successful completion of the transaction.
Players
Brooklyn 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
0.78%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93