Bayport Funding Provides $7.02M Bridge Loan For Bushwick Multifamily Acquisition
FINANCED
$7,020,000
MultiFamily
Financed 04/04/2023
FINANCED
Bayport Funding Provides $7.02M Bridge Loan For Bushwick Multifamily Acquisition
1218-1222 Putnam Avenue
See Similar DealsMultiFamily
Financed 04/04/2023
Summary
OHIO
Asset Type:MultiFamily
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$7,020,000.00
Monthly NOI$46,800.00
Monthly Debt Service$44,371.18
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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