FINANCEDOther
Starwood Property Trust Provides $42M Loan For Bed-Stuy Luxury Rental Property Acquisition In Brooklyn With Bruman Realty
1875 Atlantic Ave, Brooklyn, NY 11233, USA
$42,000,000
$1,973/SF
Building Size
21,282 SF
Asset Type
Other
Closing
May 2, 2018
AI
Summary of transation details
- Property Type: Residential Building
- Transaction Amount: $42,000,000
- Landlord: Joseph Brunner and Abe Mandel’s Bruman Realty
- Lender: Starwood Property Trust – Barry Sternlicht
- Address: 1875 Atlantic Avenue
- City: New York
- Market: Brooklyn
Players
New York Other Market Snapshot
Boundary boundary · Other · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93