Emerald Creek Capital Provides $4.5M Loan For Retail Property On McGuinness Blvd
FINANCED
$4,500,000
New York
See Similar DealsRetail
FINANCED
Emerald Creek Capital Provides $4.5M Loan For Retail Property On McGuinness Blvd
2 McGuinness BLVD, Brooklyn, NY, 11...
See Similar DealsRetail
Summary
NEW YORK
Asset Type:Retail
Transaction Type:Loan
The loan amount of $4,500,000.00 was provided by Emerald Creek Capital for the refinance of three adjacent 3-story apartment buildings located at 2 McGuinness BLVD in Brooklyn, NY. The buildings contain 7 units and feature high-quality finishes, individual roof decks, and a mix of studio, 2-bedroom, 3-bedroom, and 4-bedroom apartments.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $4,500,000.00
- Market: Brooklyn
- Lender: Emerald Creek Capital
- Location: 2 McGuinness BLVD, Brooklyn, NY, 11...
- Asset Type: Retail
The Greenpoint neighborhood in Brooklyn, NY, is known for its hipster appeal and vibrant artistic community. The area boasts a revitalized East River waterfront park, trendy eateries, bars, live music venues, and is close to McCarren Park. The property's location provides easy access to the L and 7 trains, making it a desirable residential area.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$4,500,000.00
Monthly NOI$30,000.00
Monthly Debt Service$28,443.06
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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