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
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
5.67%
Cash-on-Cash
-1.62%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93