Updated Oct 28, 2024
Brooklyn North Capital Secures $23.8M Loan For Multifamily Properties In Crown Heights & Bushwick
38 Granite Street, Granite Quarry, NC, USA
$23,800,935
$314/SF
Building Size
75,674 SF
Asset Type
MultiFamily
Closing
May 23, 2021
About this deal
AI
A loan transaction has taken place in the Crown Heights and Bushwick market in Brooklyn. The property involved in the transaction is a multifamily asset located at 38, 67, and 69 Granite St, as well as 251, 249, 220, 224, 226 Vernon Ave, 912 Bergen St, 126 Boerum St, 1486 Bushwick Ave, and 99 Rogers Ave. The total square footage of the property is 75,674, and it consists of 26 units.
Summary of transaction details:
- Property Type: Multifamily
- Loan Amount: $23,800,935
- Market: Crown Heights & Bushwick
The lender involved in this loan transaction is Sterling National Bank. The landlord of the property is Brooklyn North Capital.
Players
Salisbury MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.67%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93