Nassimi Realty Refinances Mixed-Use Property In Bushwick, Brooklyn For $5.5M
FINANCED
$5,555,000
National
See Similar DealsMixed-use10,600 SF
Financed 01/06/2023
FINANCED
Nassimi Realty Refinances Mixed-Use Property In Bushwick, Brooklyn For $5.5M
427 & 429-431 Knickerbocker Ave., Brooklyn, Ny 11237
See Similar DealsMixed-use10,600 SF
Financed 01/06/2023
Summary
Asset Type:Mixed-use
Price Per Square Foot:$524
Total Square Footage:10,600 SF
Transaction Type:Loan
The mixed-use property located at 427 & 429-431 Knickerbocker Ave in Bushwick, Brooklyn has recently undergone a refinancing transaction. The property, owned by Nassimi Realty, was involved in a deal facilitated by brokers Evan Srebrenik and Jonathan Aghravi of JBA Equities. The transaction amount for the loan was $5,555,000.
Summary of transaction details
- Property Type: Mixed-Use
- Transaction Amount: $5,555,000
- Loan Type: Refinance
- Loan Terms: 4.90%, 5 + 5 Year Term, 2 Years I/O
This financing deal provides the property owner, Nassimi Realty, with an opportunity to refinance their existing loan and potentially secure more favorable terms and conditions. The refinancing process can allow for better cash flow management and improved overall financial stability for the property.
Players
LANDLORD
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$5,555,000.00
Monthly NOI$37,033.33
Monthly Debt Service$35,111.38
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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