Updated Oct 28, 2024
Lev Capital Arranges $2.9M Construction Loan For Bushwick Multifamily
77 Woodbine Street
$2,900,000
$290/SF
Building Size
10,000 SF
Asset Type
MultiFamily
Closing
Jul 25, 2022
About this deal
AI
Located at 77 Woodbine Street in Bushwick, this multifamily property spans approximately 10,000 square feet. The transaction took place on July 25, 2022, involving a loan for construction purposes.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $2,900,000
- Market: Bushwick
- Asset Type: Multifamily
- Square Footage: 10,000
S3 Capital, led by Shawn Safdie, provided the $2,900,000 construction loan for this property. Lev Capital represented the parties involved in the deal, including Justin Piasecki, Richard Sutton, Max Lipner, and Yaakov Zar.
On the Map
$2,900,000
$290/SF
MultiFamily
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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
5.47%
Cash-on-Cash
-1.56%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93