Israel Elbogen Secures $3.875 Million Bridge Loan From Arion Fund For Multifamily Asset In Brooklyn
FINANCED
$3,875,000
New York
See Similar DealsMultiFamily96,000 SF
Financed 09/12/2025
FINANCED
Israel Elbogen Secures $3.875 Million Bridge Loan From Arion Fund For Multifamily Asset In Brooklyn
869 Thomas S. Boyland Street & 913 Thomas S. Boyland Street
See Similar DealsMultiFamily96,000 SF
Financed 09/12/2025
Summary
NEW YORK
Asset Type:MultiFamily
Price Per Square Foot:$40
Total Square Footage:96,000 SF
Transaction Type:Loan
The property involved in this transaction consists of a multifamily asset located at 869 Thomas S. Boyland Street & 913 Thomas S. Boyland Street in Brooklyn. The total square footage of the property is 48,000 and it comprises 51 units. The loan amount secured for this asset is $3,875,000, classified as a bridge loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,875,000
- Square Footage: 48,000
- Units: 51
- Address: 869 Thomas S. Boyland Street & 913 Thomas S. Boyland Street
- Market: Brooklyn
- Lender: Arion Fund
- Landlord: Israel Elbogen
- Brokers: David Bollag & James Darling - Meridian Capital Group
- Loan Type: Bridge
The transaction was facilitated by brokers David Bollag and James Darling, who represent the landlord, Israel Elbogen, in securing the financing from Arion Fund. This partnership underscores the commitment of Arion Fund to support multifamily investments through customized loan solutions.
Players
BROKERAGE
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$3,875,000.00
Monthly NOI$25,833.33
Monthly Debt Service$24,492.64
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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