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859 Myrtle Avenue, Brooklyn...

G4 Capital Partners Provides $105M Loan For 142-Unit Package Deal In Brooklyn
FINANCEDMultiFamily

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

Henry Bodek

Galaxy Capital

Broker

$12.3B

vol

69 deals

Broker
G4 Capital Partners
G4 Capital PartnersLender

Abraham Brach

Signature Acquisitions

Landlord

$281.7M

vol

11 deals

Landlord

New York MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

Loading comparables…

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