G4 Capital Partners Provides $105M Loan For 142-Unit Package Deal In Brooklyn
859 Myrtle Avenue, Brooklyn, NY 11206
$105,000,000
$864/SF
Building Size
121,468 SF
Asset Type
MultiFamily
Closing
Apr 15, 2021
AI
Located at 859 Myrtle Avenue in Brooklyn, this package deal consists of 142 units. The transaction took place on April 16, 2021, with a loan amount of $105,000,000. The property is owned by Abraham Brach of Signature Acquisitions.
Summary of transaction details
- Property Type: Package Deal
- Transaction Amount: $105,000,000
- Address: 859 Myrtle Avenue, Brooklyn
- Market: Brooklyn
- Units: 142
The loan for this transaction was provided by G4 Capital Partners, represented by Jason Behfarin, Robyn Sorid, and Robert Palumbo. Galaxy Capital Solutions, represented by Henry Bodek and Martin Bodek, served as the brokers in this deal.
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
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93