Updated Nov 17, 2023
Business Finance Capital CDC Provides $3.69M Acquisition Loan For Los Angeles Office Property At 212-216 W. 14th St
212 West 14th Street
$3,690,000
$607/SF
Building Size
6,077 SF
Asset Type
Office
Closing
Apr 4, 2022
About this deal
AI
The office building located at 212-216 W. 14th St. in Los Angeles has been involved in a recent transaction. The property encompasses approximately 6,077 square feet. The transaction took place on April 4, 2022, and the property was acquired for a total of $4,100,000.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $4,100,000
- Address: 212-216 W. 14th St., Los Angeles
- Market: Los Angeles
- Square Footage: 6,077 SF
The loan for this acquisition was provided by Business Finance Capital CDC. The loan amount was $3,690,000. The financing was arranged through the SBA 504 loan program, where 50% of the project was financed as a first mortgage by the bank, and the SBA provided 40% as a second mortgage. Chris Collins serves as the landlord for the property. Lee Kleinman, representing Business Finance Capital CDC, acted as the broker in this transaction.
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Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.30%
Cash-on-Cash
-1.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93