Updated Nov 5, 2025
Mohamed Mohamed's Multifamily Asset Secures $1.95M Bridge Loan From Yonel Devico In Brooklyn
78 Hoyt Street
$1,950,000
Building Size
—
Asset Type
MultiFamily
Closing
Jul 16, 2025
About this deal
AI
The asset involved in this transaction is a multifamily property located at 78 Hoyt Street in Brooklyn. The loan amount secured for the property is $1,950,000, classified as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,950,000
- Lender: Yonel Devico
- Landlord: Mohamed Mohamed
- Brokers: Greg Corbin & Mickey Salzman - Northgate Real Estate Group
- Loan Type: Bridge
- Transaction Date: 7/16/2025
Involved in this deal are Yonel Devico serving as the lender, while Mohamed Mohamed acts as the landlord. The brokerage representation is provided by Greg Corbin and Mickey Salzman from Northgate Real Estate Group, facilitating the transaction.
On the Map
$1,950,000
MultiFamily
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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
8.13%
Cash-on-Cash
-2.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93