Alpine Capital Bank Provides $2.8M Loan For Multifamily Property On Empire Blvd. In Brooklyn
FINANCED
$2,800,000
New York
See Similar DealsMultiFamily2,819 SF
Financed 05/26/2020
FINANCED
Alpine Capital Bank Provides $2.8M Loan For Multifamily Property On Empire Blvd. In Brooklyn
709 Empire Boulevard, Brooklyn, NY 11213, USA
See Similar DealsMultiFamily2,819 SF
Financed 05/26/2020
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$993
Total Square Footage:2,819 SF
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,800,000.00
Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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