Updated Oct 28, 2024
Hope Street Capital Secures $55M Construction Loan For Multifamily Property In Crown Heights
959 Sterling Place, Brooklyn, New York 11213, United States
$55,000,000
Units
158
Asset Type
MultiFamily
Closing
Jan 31, 2022
About this deal
AI
A multifamily property located at 959 Sterling Place in Crown Heights has been involved in a closed transaction. The property consists of 158 units and is situated in the Crown Heights market. The transaction took place on 01/31/2022.
Summary of Transaction Details
- Property Type: Multifamily
- Transaction Amount: N/A
- Address: 959 Sterling Place
- Market: Crown Heights
- Units: 158
Martin Nussbaum & David Schwartz shared an image related to the closed transaction on their Instagram account. The lender involved in this deal was SCALE Lending, while the landlord was Hope Street Capital. Walker & Dunlop served as the broker for the transaction.
No additional information is available regarding the transaction details.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Deal FAQ
Browse New York multifamily loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.29%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93