We Lend Provides $4.56M Loan For Conversion Of Three-Family Townhouse In Brooklyn
$4,560,000
$2,850/SF
Building Size
1,600 SF
Asset Type
MultiFamily
Closing
Feb 11, 2025
AI
The asset involved in the transaction is a three-family townhouse located in Cobble Hill, Brooklyn, measuring 3,200 square feet. The loan amount obtained for the property was $4,560,000, aimed at both acquisition and construction for its transformation into a luxury single-family home.
Summary of transaction details:
- Property Type: SFR
- Transaction Amount: $4,560,000
- Lender: We Lend
- Loan Type: Acquisition + Construction
- Property Location: Cobble Hill, Brooklyn
- Square Footage: 3,200
Key individuals involved in the transaction include Solomon Suleymanov and Moses Suleymanov, associated with the financing provided by We Lend, who facilitated the conversion project reflecting current trends in Brooklyn's real estate market.
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
3.48%
Cash-on-Cash
-0.99%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93