Updated Oct 29, 2024
Bayport Funding Provides $7.02M Bridge Loan For Bushwick Multifamily Acquisition
1218-1222 Putnam Avenue
$7,020,000
Units
21
Asset Type
MultiFamily
Closing
Apr 4, 2023
About this deal
AI
A bridge loan in the amount of $7,020,000 was secured for the multifamily property located at 1218-1222 Putnam Avenue in Bushwick, Brooklyn. The property consists of 21 units and is situated in a prime market.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $7,020,000
- Units: 21
- Lender: Bayport Funding - Marcia Kaufman
- Loan Type: Bridge loan
Marcia Kaufman from Bayport Funding facilitated the loan for this transaction. The bridge loan will provide the necessary financing for the property acquisition or renovation.
On the Map
$7,020,000
MultiFamily
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Players
Zanesville 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
2.26%
Cash-on-Cash
-0.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93