Brick Capital Partners Provides $24.35M Bridge Loan For Multifamily Properties In Manhattan And Queens
FINANCED
$24,350,000
New York
See Similar DealsMultiFamily345,028 SF
Financed 04/04/2023
FINANCED
Brick Capital Partners Provides $24.35M Bridge Loan For Multifamily Properties In Manhattan And Queens
MultiFamily345,028 SF
Financed 04/04/2023
Summary
Asset Type:MultiFamily
Price Per Square Foot:$70
Total Square Footage:345,028 SF
Transaction Type:Loan
An recently closed loan deal in Manhattan and Queens involved a multifamily property with a square footage of 172,514. The loan, amounting to $24,350,000, was provided by Brick Capital Partners. Eric Roth, Joel Radmin, and George Niblock from the lending company facilitated the bridge loan transaction.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $24,350,000
Brick Capital Partners served as the direct bridge lender for this transaction, offering a total of $24,350,000 in bridge loans. The loan was recently closed, completing three transactions within a seven-day period. For inquiries or further information, interested parties can contact Brick Capital Partners at (646) 453-5858.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$24,350,000.00
Monthly NOI$162,333.33
Monthly Debt Service$153,908.56
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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