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Brick Capital Partners comp...

Updated Oct 29, 2024

Brick Capital Partners Provides $24.35M Bridge Loan For Multifamily Properties In Manhattan And Queens
FINANCEDMultiFamily

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

Brick Capital Partners
Brick Capital PartnersLender

Market MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Loan transactions

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Deal FAQ

About $70 per square foot on a published $24.4M for 345,028 square feet (2023).

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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

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