Sheridan Capital Provides $4.7M Bridge Loan For 153 Berry Street, Williamsburg Retail
153 Berry Street
$4,700,000
Building Size
—
Asset Type
Retail
Closing
Jun 10, 2024
AI
The property at 153 Berry Street in Williamsburg, Brooklyn, was involved in a recent transaction. The asset, a retail space, secured a bridge loan amounting to $4,700,000 from Sheridan Capital. Avi Eyal from FM Capital represented the deal as the broker.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,700,000
- Address: 153 Berry Street
- Market: Williamsburg, Brooklyn
- Lender: Sheridan Capital
- Broker: Avi Eyal - FM Capital
Avi Eyal played a key role in securing the bridge loan for the retail space at 153 Berry Street. The involvement of Sheridan Capital in providing the financial assistance highlights the significance of the deal in the Williamsburg market. This transaction signifies a strategic move benefiting both the borrower and the lender.
Players
Brooklyn Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.38%
Cash-on-Cash
-0.96%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93