Bridge City Provides $6.9M Bridge Loan For Brooklyn Multifamily Property
322 Graham Avenue
$6,900,000
$770/SF
Building Size
8,960 SF
Asset Type
MultiFamily
Closing
Dec 8, 2022
AI
A multifamily property located at 322 Graham Avenue in Brooklyn has been involved in a recent loan transaction. The property, owned by Graham Assets, received a loan amount of $6,900,000 from Bridge City. The loan terms are set at 12 months with a loan-to-value (LTV) ratio of 58%. This bridge loan will provide financing for the property.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $6,900,000
- Address: 322 Graham Avenue
- Market: Brooklyn
Bridge City, as the lender, specializes in financing mixed-use, residential, industrial, and construction projects. They actively provide loans for properties in the Tri-State Area, South Florida, and various other states. For loan inquiries, interested parties can visit their website at www.bridgecityfunding.com or contact [email protected].
Players
New York 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
2.30%
Cash-on-Cash
-0.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93