Signature Bank Provides $26M Loan For Office Property In East Village
409-413 Lafayette Street, East Village, Flint, MI, USA
$26,000,000
$268/SF
Building Size
97,020 SF
Asset Type
Office
Closing
Jul 22, 2021
AI
The office building located at 409-413 Lafayette Street in the East Village has been involved in a recent loan transaction. The loan amount of the deal was $26,000,000. The total square footage of the property is 97,020 square feet.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $26,000,000
- Address: 409-413 Lafayette Street
- Market: East Village
Signature Bank provided the loan for this transaction. The landlord of the property is Himmel + Meringoff Properties, represented by Andrea Himmel & Jason Vacker.
Players
Flint Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.61%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93