A New York investor acquiring an 8-unit brownstone in Crown Heights - $3,800,000 purchase, 95% occupied, $34,000/month gross rent. Seller needed to close in 30 days or the deal was dead.
LOAN AMOUNT
$2,850,000
Bank had already passed - too fast a timeline. Needed $2,850,000 (75% LTV) funded in 30 days with minimal paperwork.
Adler Capital delivered. Approval in 5 days, clear to close in 22 days, funded on day 29. No tax returns - underwritten on property cash flow.
The Outcome
Closed on time, saved the deal. Minor cosmetic upgrades on turnover drove rents up 12%. Property now appraised at $4,400,000.
Deal Highlights
LOAN AMOUNT
$2,850,000
PURCHASE PRICE
$3,800,000
LTV
75%
MONTHLY GROSS RENT
$34,000
OCCUPANCY
95%
CLOSING TIME
29 Days
More Deals
See how Adler Capital has structured financing across property types, markets, and deal sizes.
An investor targeting the Delray Beach long-term rental market found a clean 3/2 near Atlantic Avenue - $485,000 purchase, tenant already in place at $3,950/month with 8 months remaining on lease.
A South Shore investor bought a 3/1 cape in Quincy for $395,000 - dated 1950s construction, small bathroom, cramped layout. Comparables for fully renovated 3/2 capes: $580K-$620K.
A South Florida investor identified a fully occupied 4-unit in Hialeah - all 2/1 units, long-term tenants, $6,800/month gross rent. Purchase: $620,000. Cap rate coming in at 5.8% with upside on turnover.
