Brooklyn North Capital Secures $23.8M Loan For Multifamily Properties In Crown Heights & Bushwick
FINANCED
$23,800,935
North Carolina
See Similar DealsMultiFamily75,674 SF
Financed 05/24/2021
FINANCED
Brooklyn North Capital Secures $23.8M Loan For Multifamily Properties In Crown Heights & Bushwick
38 Granite Street, Granite Quarry, NC, USA
See Similar DealsMultiFamily75,674 SF
Financed 05/24/2021
Summary
NORTH CAROLINA
Asset Type:MultiFamily
Price Per Square Foot:$314
Total Square Footage:75,674 SF
Transaction Type:Loan
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
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$23,800,935.00
Monthly NOI$158,672.90
Monthly Debt Service$150,438.10
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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