Jeff Froccaro, Simon Rosenfeld & Bryan Grimm Acquire Mixed Use Properties In New York And Secure $118.5M Refinance Loan From BMO
FINANCED
$118,500,000
National
See Similar DealsMultiFamily64,000 SF
Financed 01/09/2023
FINANCED
Jeff Froccaro, Simon Rosenfeld & Bryan Grimm Acquire Mixed Use Properties In New York And Secure $118.5M Refinance Loan From BMO
Theater House / 114 West 86th / 315 5th Avenue
See Similar DealsMultiFamily64,000 SF
Financed 01/09/2023
Summary
Asset Type:MultiFamily
Price Per Square Foot:$1,851
Total Square Footage:64,000 SF
Transaction Type:Loan
The recently closed transaction involved a mixed-use property located at 237 East 34th Street, 114 West 86th, and 315 5th Avenue in the New York market. Offering a total square footage of 64,000, this property attracted attention from various parties.
Summary of transaction details
- Property Type: Mixed Use
- Transaction Amount: $118,500,000
- Lender: BMO - Jeff Froccaro
- Brokers: Simon Rosenfeld & Bryan Grimm - Meridian Capital Group
- Loan Type: Refinance
Heading the transaction, BMO's representative, Jeff Froccaro, facilitated the loan process. The brokers, Simon Rosenfeld and Bryan Grimm, from Meridian Capital Group, also played a crucial role in the deal. The successful refinancing of this property showcases their expertise and knowledge in the market.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$118,500,000.00
Monthly NOI$790,000.00
Monthly Debt Service$749,000.61
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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