Maguire Capital Group Acquires $11M Note From Cathay Bank
255 Butler Street Brooklyn, New York 11217, USA
$11,000,000
Building Size
—
Asset Type
Note / Loan
Closing
Jun 15, 2023
About this deal
AI
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.
On the Map
$11,000,000
Note / Loan
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Players
Brooklyn Note / Loan Market Snapshot
Boundary boundary · Note / Loan · Sale transactions
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Deal FAQ
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.44%
Cash-on-Cash
-0.41%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93