Updated Jun 5, 2025
Chase Bank Provides $2.85M Loan For Multifamily Property In Bay Ridge, Brooklyn
8302 6th Avenue, Brooklyn, NY 11209
$2,850,000
$91/SF
Building Size
31,080 SF
Asset Type
MultiFamily
Closing
Jul 6, 2020
About this deal
AI
The multifamily property located at 8302 6th Avenue in Bay Ridge, Brooklyn has been involved in a recent transaction.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $2,850,000
- Lender: Chase Bank
- Landlord: Stavros Haviaras
- Broker: Simon Rosenfeld - Meridian Capital Group
The loan for this transaction was provided by Chase Bank. The loan amount was $2,850,000 with fixed terms at a rate of 3.10%. It had a 7-year term, with the first 3 years being interest only, and a 30-year amortization schedule.
Simon Rosenfeld, representing Meridian Capital Group, acted as the broker for this transaction.
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
5.57%
Cash-on-Cash
-1.59%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93