We Lend Closes $1.02M Bridge Loan In Bushwick, Brooklyn Multifamily Deal
$1,023,500
$511/SF
Building Size
2,000 SF
Asset Type
MultiFamily
Closing
Dec 1, 2023
AI
A bridge loan transaction has been closed in Bushwick, Brooklyn. The multifamily property, spanning approximately 2,000 square feet, was involved in this deal.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,023,500
- Market: Bushwick, Brooklyn
Ruben Izgelov, Moses Suleymanov, and Solomon Suleymanov of We Lend served as the lenders in this transaction. They provided a bridge loan of $1,023,500 for the property in Bushwick, Brooklyn.
We Lend is pleased to share that they recently closed their first joint venture deal with one of their active borrowers. In this transaction, they acted as both a debt and equity partner. For any financing inquiries, interested parties can contact Solomon Suleymanov directly at 212-257-3888 or [email protected].
Players
Brooklyn 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
15.50%
Cash-on-Cash
-4.43%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93