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Maguire Capital Group Acquires $11M Note From Cathay Bank
SOLD
$11,000,000
New York
See Similar DealsNote / Loan
Sold 06/15/2023
SOLD
Maguire Capital Group Acquires $11M Note From Cathay Bank
255 Butler Street Brooklyn, New York 11217, USA
See Similar DealsNote / Loan
Sold 06/15/2023
Summary
NEW YORK
Asset Type:Note / Loan
Transaction Type:Sale
Maguire Capital Group has acquired a loan note with an original principal of $11 million from Cathay Bank. The transaction took place at 255 Butler Street in Gowanus, Brooklyn. The property is a Note, and the sale price was $11,000,000.
Summary of transaction details
- Property Type: Note
- Transaction Amount: $11,000,000
- Date: 06/15/2023
- Address: 255 Butler Street, Gowanus, Brooklyn
- Buyer: Maguire Capital Group
- Seller: Cathay Bank
The loan note was acquired by Maguire Capital Group from Cathay Bank. Marvin Azrak captured the image related to this transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$586,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$39,080.67
Cash-on-Cash Return-1.27%
Monthly Debt Service$52,145.61
Annual Debt Service$625,747.34
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