Samuel Landau Secures $17.35M Construction Loan For Mixed-Use Property On Flatbush Avenue
1341 Flatbush Avenue, Brooklyn, New York 11226, United States
$17,350,000
Units
52
Asset Type
Mixed-use
Closing
Nov 23, 2022
About this deal
AI
Located at 1341 Flatbush Avenue in the Flatbush neighborhood of Brooklyn, this mixed-use property consists of 52 units. The transaction, which took place on November 23, 2022, was a closed deal involving a construction loan from Kearny Bank. The loan amount of $17,350,000 will be used to fund the construction of the property.
Summary of transation details
- Property Type: Mixed-Use
- Transaction Amount: $17,350,000
- Units: 52
- Address: 1341 Flatbush Avenue
- Market: Flatbush, Brooklyn
Samuel Landau is the landlord of the property, while Kearny Bank provided the construction loan. The loan type for this transaction is a construction loan. It is noteworthy to mention that the deal was closed without any additional details available.
On the Map
$17,350,000
Mixed-use
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Brooklyn Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.91%
Cash-on-Cash
-0.26%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93