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709 Empire Boulevard, Brook...

Alpine Capital Bank Provides $2.8M Loan For Multifamily Property On Empire Blvd. In Brooklyn
FINANCEDMultiFamily

Alpine Capital Bank Provides $2.8M Loan For Multifamily Property On Empire Blvd. In Brooklyn

709 Empire Boulevard, Brooklyn, NY 11213, USA

$2,800,000

$993/SF

Building Size

2,819 SF

Asset Type

MultiFamily

Closing

May 26, 2020

AI

The multifamily property located at 709 Empire Blvd. in Brooklyn was involved in a recent transaction. The loan for this property was provided by Alpine Capital Bank. The loan amount was $2,800,000, and the loan terms included a construction interest rate of 4.51%. The landlord of the property is The Slavin Family. The broker representing the deal was Joe Hach from eviathanCapital.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: $2,800,000
  • Address: 709 Empire Blvd.
  • Market: Brooklyn
  • Lender: Alpine Capital Bank
  • Landlord: The Slavin Family
  • Broker: Joe Hach from eviathanCapital
  • Loan Terms: 4.51% Construction Interest Rate

The key individuals and companies involved in this transaction include the lender, Alpine Capital Bank, who provided the loan for the property. The landlord of the property is The Slavin Family, and the broker representing the deal is Joe Hach from eviathanCapital.

Players

Joseph Hach

Refined

Broker

$149.4M

vol

24 deals

Broker
Leviathan Capital
Leviathan CapitalBrokerage
Alpine Capital Bank
Alpine Capital BankLender

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.67%

Cash-on-Cash

-1.62%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93