Cohane Family Secures $6.66M Loan From Ladder Capital For Greenpoint Package Deal
195 Nassau Ave, Brooklyn, NY, USA
$6,660,000
Building Size
—
Asset Type
Other
Closing
May 31, 2021
AI
The package deal in Greenpoint, Brooklyn involved three properties located at 195 Nassau Ave., 266 Nassau Ave., and 102 Eagle St. The deal was facilitated by Matthew Shatz from B6 Real Estate.
Summary of transaction details:
- Property Type: Package Deal
- Loan Amount: $6,660,000
- Term: 10 Years - Full Term Interest Only
- Lender: Ladder Capital
- Landlord: Cohane Family
- Broker: Matthew Shatz - B6 Real Estate
- Market: Greenpoint, Brooklyn
The package deal was secured with a loan amount of $6,660,000 from Ladder Capital. The loan term is set for 10 years with full term interest-only payments. The landlord in this transaction is the Cohane Family. Matthew Shatz from B6 Real Estate represented the parties involved in the deal.
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
2.38%
Cash-on-Cash
-0.68%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93