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We Lend completes $1,860,00...

Updated Dec 4, 2024

FINANCEDOther

We Lend Closes $1.86M Foreclosure Bailout Refinance Loan In Brooklyn

$1,800,006

$816/SF

Building Size

2,205 SF

Asset Type

Other

Closing

Apr 9, 2023

About this deal

AI

In Brooklyn, NY, a foreclosure bailout deal has been successfully closed and funded by We Lend. The property involved in this transaction is a townhouse consisting of two units, with a total square footage of 2,205. The loan amount provided by We Lend for this deal is $1,860,000. The loan type is a foreclosure bailout refinance, specifically designed to prevent the property from falling into foreclosure and safeguard the borrower's equity from accumulating default interest.

Summary of transaction details:

  • Property Type: Townhouse
  • Transaction Amount: $1,860,000
  • Units: 2
  • Square Footage: 2,205
  • Lender: We Lend

This foreclosure bailout deal in Brooklyn highlights We Lend's dedication to assisting investors in challenging economic environments. By availing of this strategically designed loan, the borrower can effectively reposition their asset, enabling them to refinance or trade without encountering any hurdles. Solomon Suleymanov, from We Lend, can be contacted directly at 212-257-3888 or [email protected] for further information.

Players

We Lend
We LendLender

Market Other Market Snapshot

Boundary boundary · Other · Loan transactions

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Deal FAQ

About $816 per square foot on a published $1.8M for 2,205 square feet (2023).

Browse New York other loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

8.81%

Cash-on-Cash

-2.52%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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