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.
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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