This transaction involves a multifamily asset located in Brooklyn, featuring a square footage of 3,440 and comprising 2 units. The deal secured a bridge loan with an amount of $2,145,000 and an LTV of 80% for purchase and 100% for construction, set for a term of 18 months.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $2,145,000
• Market: Brooklyn
• Square Footage: 3,440
• Units: 2
• Lender: Salman Capital Funding
• Loan Originator: Gabriel Shaoolian
• Loan Type: Bridge
• Loan Terms: 18 Months; LTV: 80% Purchase 100% Construction

The deal includes the conversion of a current 3-Family space into a 2-unit setup consisting of a 3-Story Single Family Unit and a cellar basement unit. Salman Capital Funding appreciates being part of another Brooklyn conversion project, and they invite potential borrowers to inquire about other Bridge/Fix & Flip or Long Term DSCR opportunities.