Oved Group Acquires Multifamily Property In Brooklyn, NY For $3.46M

The multifamily property located at 662 Madison Street in Brooklyn, NY has been acquired and financed in a closed transaction. The property spans a total of 10,160 square feet.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $3,460,000
• Address: 662 Madison Street, Brooklyn, NY
• Landlord: Joseph Oved, Oved Group
• Lender: John Darrow, Sabal Financial
• Broker: Brad Domenico, Partner Progress Capital
• Rate: 3.85% Fixed for 7 Years
• Loan to Value: 80%

The landlord for the property is Joseph Oved, representing Oved Group. The lender involved in the financing is John Darrow from Sabal Financial, while the broker facilitating the deal is Brad Domenico from Partner Progress Capital.

This transaction was made possible with a loan amount of $3,460,000, offering a fixed interest rate of 3.85% for a term of 7 years. The loan to value ratio for this deal is capped at 80%. Additionally, a notable feature of the loan is the 24-month interest-only period.