BridgeCity Capital Provides $12.75M Bridge Loan For 16-Unit Multifamily Asset In Brooklyn
FINANCED
$12,750,000
New York
See Similar DealsMultiFamily22,946 SF
Financed 10/02/2024
FINANCED
BridgeCity Capital Provides $12.75M Bridge Loan For 16-Unit Multifamily Asset In Brooklyn
MultiFamily22,946 SF
Financed 10/02/2024
Summary
Asset Type:MultiFamily
Price Per Square Foot:$555
Total Square Footage:22,946 SF
Transaction Type:Loan
The property asset involved in the transaction is a multifamily unit located in Brooklyn, with a total square footage of 11,473 and comprising 16 units. The loan amount secured for this asset is $12,750,000, and it is categorized as a bridge loan with terms extending from bridge to permanent financing.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $12,750,000
- Square Footage: 11,473
- Units: 16
- Market: Brooklyn
- Lender: BridgeCity Capital - Louis Lebovits
- Loan Type: Bridge
- Loan Terms: Bridge to Perm
Key individuals in this transaction include Louis Lebovits, representing BridgeCity Capital, which actively finances mixed-use, residential, industrial, and construction projects in the Tri-State Area, South Florida, and various other states.
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$12,750,000.00
Monthly NOI$85,000.00
Monthly Debt Service$80,588.67
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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