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
About this deal
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
The other loan at 1875 Atlantic Ave, Brooklyn, NY 11233, USA in Brooklyn, New York financed for $42M in 2018. The building is 21,282 square feet, implying about 2K per square foot on the published price. Named participants on the 1875 Atlantic Ave, Brooklyn, NY 11233, USA loan are Joseph Brunner, Abe Mandel. This page is the Brooklyn, New York file for the 1875 Atlantic Ave, Brooklyn, NY 11233, USA other financed: pricing, party profiles, and other closed other comps from the same Brooklyn sit in the Market section below. Filter that Brooklyn other set by closing date to see what else financed near 1875 Atlantic Ave, Brooklyn, NY 11233, USA around 2018. Published consideration for 1875 Atlantic Ave, Brooklyn, NY 11233, USA is $42M, dated 2018. Cite this Starwood Property Trust Provides $42M Loan For Bed-Stuy Luxury Rental Property Acquisition In Brooklyn With Bruman Realty loan when underwriting similar other product around Brooklyn, New York.
On the Map
$42,000,000
$1,973/SF
Other
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Brooklyn Other Market Snapshot
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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