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55 Lenox Ave LLC Acquires Mixed Use Property In Harlem, NY For $3M

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FINANCED
$500,000,000

National

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Financed 05/14/2018
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FINANCED

55 Lenox Ave LLC Acquires Mixed Use Property In Harlem, NY For $3M

Financed 05/14/2018
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Summary

Transaction Type:Loan

Located in Harlem, New York, the mixed-use properties at 455 and 457 Lenox Avenue have recently been involved in a closed transaction. The assets were sold for a total amount of $3,000,000. Spanning a total of 6,000 square feet, the properties consist of 10 units, including 8 residential and 2 commercial spaces. The address of the properties is 455 and 457 Lenox Avenue, Harlem, NY.

Summary of transation details

  • Property Type: Mixed Use
  • Transaction Amount: $3,000,000
  • Square Footage: 6,000 sf
  • Units: 10 (8 Residential and 2 Commercial)

The transaction was facilitated by The Cornerstone Group, with Aleksandr Leykind representing the buyer or seller. The buyer's representative, Aleksandr Leykind of The Cornerstone Group, assisted in ensuring a successful transaction. The lender responsible for the mortgage was Patriot Bank. The landlord of the properties, 455 Lenox Ave LLC, is associated with Alex Goldschmidt.

Players

LENDER

Details

FINANCED
IMAGE: Aleksandr Leykind DATE: 05/14/2018 FINANCE: PROPERTY: 455 and 457 Lenox Avenue, Harlem, NY PROPERTY TYPE: Mixed Use AMOUNT: $3,000,000 SF: 6,000 sf UNITS: 10 (8 Resi and 2 Commerical) LANDLORD: 55 Lenox Ave LLC – Alex Goldschmidt LENDER: Patriot Bank MORTAGE BROKER: The Cornerstone Group – Aleksandr Leykind

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$500,000,000.00

Monthly NOI$3,333,333.33
Monthly Debt Service$3,160,340.12
Change in Cash Flow$0.00
Refinance Proceeds$0.00