Updated Oct 29, 2024
Brick Capital Partners Provides $24.35M Bridge Loan For Multifamily Properties In Manhattan And Queens
$24,350,000
$70/SF
Building Size
345,028 SF
Asset Type
MultiFamily
Closing
Apr 4, 2023
About this deal
AI
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.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.65%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93