Sterling National Bank Provides $28.75M Loan For Coney Island Clinic
3035 West 24th Street, Coney Island, Brooklyn, NY, USA
$28,750,000
$271/SF
Building Size
106,000 SF
Asset Type
—
Closing
May 17, 2021
About this deal
AI
A clinic located at 3035 West 24th Street in Coney Island has been involved in a recent loan transaction. The lender, Sterling National Bank, provided a loan amount of $28,750,000 for this property. The clinic has a total area of 106,000 square feet.
Summary of transation details
- Property Type: Clinic
- Transaction Amount: $28,750,000
- Address: 3035 West 24th Street, Coney Island
- Market: Coney Island
- Loan Lender: Sterling National Bank
- Landlord: The Atlantic Group
- Square Footage: 106,000 SF
In this deal, The Atlantic Group acted as the landlord for the clinic located at 3035 West 24th Street. The loan was provided by Sterling National Bank, serving as the lender for this transaction.
Players
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.55%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93